222 LAWS OF MARYLAND. [CH. 154

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 222(1) of Article 81 of the Annotated
Code of Maryland (1943 Supplement), title "Revenue and
Taxes", sub-title "Income Tax", be and it is hereby repealed
and re-enacted, with amendments, to read as follows:

222.

(1). "Anuuity income" means an amount equal to three
per cent. (3%) per annum of the aggregate premiums or
consideration paid for any annuity; provided, however, that
after the amount excluded equals the cost or consideration
paid for the annuity all subsequent payments shall be taxa-
ble in their entirety as ordinary income and not as invest-
ment income.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1947.

Approved March 29, 1947.

CHAPTER 154.
(Senate Bill 73)

AN ACT to repeal Section 290 of Article 93 of the Annotated
Code of Maryland (1939 Edition), title "Testamentary
Law", sub-title "Register of Wills", said section relating
to the official bond of the Register of Wills of Baltimore
City.

WHEREAS, Chapter 713 of the Acts of 1945 fixes the bond
of the Register of Wills of Baltimore City and Chapter 785
of the Acts of 1945 fixes the compensation of the several
Registers of Wills of the State, thereby making unnecessary
Section 290 of Article 93; therefore

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 290 of Article 93 of the Annotated Code
of Maryland (1939 Edition), title "Testamentary Law", sub-
title "Register of Wills", be and it is hereby repealed.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1947.

Approved March 29, 1947.