1670 LAWS OF MARYLAND. [CH. 965

"Revenue and Taxes", sub-title "Gross Receipts Tax";
to amend the law relating to the taxation of railroads
worked by steam and other public service corporations
and contract carriers; to repeal the tax measured by
the gross receipts of railroads worked by steam, under
certain conditions; to exempt from taxation shares
of stock in railroads worked by steam and certain other
public service corporations, under certain conditions;
to provide a tax for State purposes at a special rate on
the operating property in this State, except land, of rail-
roads worked by steam, under certain conditions with
retroactive similar provisions at different rates of tax,
under certain conditions; to define "gross receipts" and
"gross earnings" and similar terms and the measure for
taxation thereof, under certain conditions;. and providing
that the effective date of this Act shall depend, within
limits, upon court determination of the unconstitutional-
ity, invalidity or ineffectiveness of the tax measured by
operating revenues of railroads worked by steam, in its
application to interstate operating revenues, upon proc-
lamation by the Governor.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That sub-section (15) of Section 7 of Article 81 of the
Annotated Code of Maryland (1943 Supp. ), title "Revenue
and Taxes", sub-title "What Shall Be Taxed and Where",
be and the same is hereby repealed, and that a new sub-
section be and it is hereby enacted in lieu thereof, said
new Section to be known as sub-section (15) of Section 7,
to follow immediately after sub-section (14) of said Sec-
tion 7 of said Article, and to read as follows:

7. (15) Shares of stock in railroad companies when
the operating property thereof located in this State, ex-
cept land, is subject to the special State tax imposed by
Section 25 (h); shares of stock in express or transporta-
tion, parlor car and sleeping car companies which are
subject to taxation under Section 95 upon their operating
revenues within this State; and (from State taxes only)
the operating properties of express or transportation, par-
lor car and sleeping car companies when the revenues there-
from are subject to taxation under Section 95.

SEC. 2. And be it further enacted, That a new sub-
section be added to Section 25 of Article 81 of the Anno-
tated Code of Maryland (1943 Supp. ), title "Revenue and
Taxes", sub-title "Rate of Tax", said new sub-section to
follow immediately after sub-section (g) of said Section
and said Article, and to be known as sub-section (h), said
sub-section to read as follows: