264 LAWS OF MARYLAND. [CH. 143

CHAPTER 143.

AN ACT to exempt the railroad property of the Washington,
Brandywine and Point Look Out Railroad Company, or so
much thereof as may be used for railroad purposes by the
said Company, its successors and assigns, from all State
taxes and charges, and from all county and city taxes and
charges in the nature of a tax for the years during which
the property is so used but not exceeding four years begin-
ning January 1, 1937, provided that if said railroad property
should earn a net income during either of said years, the
said Company, its successors and assigns shall pay as a
tax an amount equal to all of said net income so earned
during said year or years in lieu of said taxes and other
charges, but not exceeding the aggregate of said taxes and
other charges,

WHEREAS, The Washington, Brandywine and Point Look
Out Railroad Company did not earn its operating charges dur-
ing the year 1936, and it is of the utmost importance for the
welfare of the State and particularly those parts of the
Counties of Prince George's, Charles, St. Mary's, Anne Arundel
and Calvert served by the said railroad that the operation
thereof be continued; and

WHEREAS, It is in the judgment of the General Assembly of
Maryland, a wise and sound public policy to encourage the
continued operation of the said railroad by the exemption
herein provided; therefore

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the railroad property of the Washington, Brandy-
wine and Point Look Out Railroad Company, or so much
thereof as may be used for railroad purposes by the said Com-
pany, its successors and assigns, be exempt from all State
taxes and charges, and from all county and city taxes and
charges in the nature of a tax for the years during which the
property is so used, not exceeding four years beginning Janu-
ary 1, 1937, provided that if said railroad property should
earn a net income during either of said years, the said Com-
pany, its successors and assigns shall pay as a tax an amount
equal to all of said net income so earned during said year or
years in lieu of said taxes and other charges, but not exceeding
the aggregate amount of said taxes and other charges.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1937.

Approved May 18, 1937.