398 LAWS OF MARYLAND [CH. 81

year ending June 30, 1951, to the State debt and to reduce
the State tax on real and personal property and/or the
State income tax for the next ensuing fiscal year.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That if the revenues derived from the State Income Tax,
the State sales tax, and other sources of revenue, including
the surplus carried over from the preceding fiscal year for the
fiscal year ending June 1, 1951, exceed the appropriations
for said year, as contained in the State Budget for said year,
by more than Two Million Dollars ($2,000,000.00), the Board
of Public Works, in its discretion, may by a resolution dedi-
cate all or any part of such excess revenues to the payment
of the interest and principal of the State debt payable during
the next ensuing fiscal year. After the adoption of such a
resolution, the part of the excess revenues so dedicated shall
be applied exclusively to the payment of such interest and
principal and to no other purpose. Such a resolution shall
operate to reduce the State Tax rate on real and personal
property for the next ensuing fiscal year, by the amount so
dedicated to the State debt. Immediately upon the adop-
tion of such a resolution, the Governor shall issue a pro-
clamation setting forth the amount of such reduction in the
State Tax rate, and the resulting rate for the next ensuing
fiscal year. This Act shall not apply to dedicated funds.
Provided, however, that in the discretion of the Board of
Public Works all or any part of such excess revenues may be
applied to the payment of the interest and principal of the
State debt, payable during the next ensuing fiscal year,
and/or for the reduction of the income tax in such amount
or amounts or in such proportions as said Board shall deter-
mine.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1950.

Approved March 28, 1950.

CHAPTER 81

(House Bill 40)

AN ACT to repeal and re-enact, with amendments, Section 306
of Article 27 of the Annotated Code of Maryland (1939

EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike-out indicates matter stricken out of bill.