706 LAWS OF MARYLAND. [CH. 410

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That a new section be and the same is hereby added to
Article 81 of the Annotated Code of Maryland, title "Reve-
nue and Taxes," sub-title "Exemptions,'' to be known as
Section 4-A, and to come in after Section 4 of said Article,
to read as follows:

4-A. There shall be exempt from valuation and assessment
for the purpose of State, county and municipal taxation un-
der the provisions of this Article, any bonds, notes and certifi-
cates of indebtedness of any kind and stocks of foreign cor-
porations which are held as part of the endowment of any
incorporated hospital, asylum, or educational institution of
this State, no part' of the net earnings of which inures to the
benefit of any private, stockholder or member, and which are or
shall be the gift of, or are or shall be investments or re-invest-
ments of funds or other securities which are or shall be the gift
of any person who is a non-resident of this State, or of any
corporation not chartered by this State to any such hospital,
asylum, or educational institution of this State, to enable it to
carry on or extend its charitable or benevolent objects, or to
promote public education or the advancement of knowledge by
scientific investigation and research.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1920.

Approved April 9, 1920.

CHAPTER 410.

AN ACT to authorize and direct the Comptroller of the Treas-
ury to pay to the Calvert County Hospital of Calvert
County, Maryland, certain money provided for its use in
the Budget of 1918.

WHEREAS, The Board of State Aid and Charities recom-
mended to the Governor of the State that the sum of $4,000
be provided in the Budget of 1918 for the Havre de Grace
Hospital for the years 1919 and 1920, to be paid upon ~a per
diem basis, with a minimum of $2,000 to be paid in any event,
and recommended the sum of $2,500 for the St. Mary's
Hospital for the years 1919 and 1920, to be paid upon a per
capita basis with a minimum of $1,500, and likewise recom-
mended the sum of $2,000 for the Calvert County Hospital