1048 LAWS OF MARYLAND. [CH. 517

CHAPTER 517.

AN ACT to add a new section to Article 81 of the Annotated
Code of Maryland, Edition of 1924, title "Revenue and
Taxes, " sub-title "Corporate Taxation, " to follow immedi-
ately after Section 166-A, and to be known as Section 166-B,
fixing the rate of local taxation on the shares of stock of com-
mercial banking, finance, mortgage and other moneyed or
financial corporations (except Banks, State or National,
Trust Companies, Insurance Companies, -casualty, surety,
guaranty or fidelity Companies), organized under the laws
of, located and doing business in this State.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That a new section be, and the same is hereby added t0
Article 81 of the Annotated Code of Maryland, Edition of
1924, title "Revenue and Taxes", sub-title "Corporate Taxa-
tion", to be known as Section 166-B, to follow immediately af-
ter Section 166-A, and to read as follows:

166-B. Upon the assessed taxable value of the shares of
stock of every commercial banking, finance, mortgage and other
moneyed or financial corporation (except Banks, State or Nation-
al, Trust Companies, Insurance Companies, casualty, surety,
guaranty or fidelity Companies which are otherwise provided
for in this Article), organized under the laws of, located in and
doing business in this State, there shall be paid the regular rate
of taxation for State purposes, and there shall also be paid on
such valuation one per cent., and no more, in all for all County,
City and Municipal taxation, which said tax shall be distributed
among the different jurisdictions entitled to tax the said shares
in the proportion which the rate of each jurisdiction bears to the
aggregate of the rates of such jurisdictions, and said tax shall
be in lieu of all other taxes whatsoever, for County and Muni-
cipal purposes upon the shares of stock and the owners of stock
in such commercial banking, finance, mortgage and other mon-
eyed or financial corporations (except Banks, State or National,
Trust Companies, Insurance Companies, casualty, surety, guar-
antee or fidelity Companies which are otherwise provided for in
this Article). In the valuation of said stock, and the computa-
tion of said tax thereon, there shall be allowed all deductions
and credits now or hereafter allowed such corporations, respec-
tively, under the provisions of this Article.

SEC. 2. And be it further enacted, That nothing herein con-
tained shall affect the tax levy for 1927.