Ch. 315 LAWS OF MARYLAND

(2) If it is accepted by the eligible student, each award shall be renewable,
on an annual basis, for a maximum of 3 years subsequent to the original award if the
recipient:

(i) Remains a resident of the State;

(ii) Attends an accredited postsecondary institution in the State;

(iii) Is enrolled as a full-time undergraduate student; and

(iv) Maintains a 3.0 grade average ON AN ACADEMIC YEAR
BASIS OR, FAILING TO DO SO, PROVIDES EVIDENCE, SATISFACTORY TO
THE SECRETARY, OF EXTENUATING FINANCIAL, ACADEMIC, OR OTHER
CIRCUMSTANCES OF EXTREME PERSONAL HARDSHIP.

18-1106.

SUBJECT TO § 2-1312 OF THE STATE GOVERNMENT ARTICLE. THE
COMMISSION SHALL REPORT TO THE GENERAL ASSEMBLY BY JANUARY
1 OF EACH YEAR ON THE NUMBER AND NATURE OF THE EXTENUATING
CIRCUMSTANCES OF THE APPEALS GRANTED UNDER § 18-1102(0(2) OF
THIS SUBTITLE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1990.

Approved May 2, 1990.

CHAPTER 315
(House Bill 387)

AN ACT concerning

Income Tax - Capital Gains

FOR the purpose of reducing a Maryland income tax subtraction modification for a
portion of net capital gain by the amount of net capital gain excluded for federal
income tax purposes; providing for the application of this Act; and generally
relating to a subtraction modification for Maryland income tax purposes for
certain capital gains.

BY repealing and reenacting, with amendments,
Article - Tax - General
Section 10-207(i)
Annotated Code of Maryland

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