HERBERT R. O'CONOR, GOVERNOR. 225

dependent credit. A husband and wife living together
shall together be entitled to but one exemption of two
thousands dollars ($2, 000); if such husband and wife file
separate returns the exemption may be taken by either
or divided between them in any proportion, but election
with respect to the manner of filing the return by husband
and wife once made, shall be final and irrevocable for the
particular taxable year.

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1945.

Approved March 16, 1945.

CHAPTER 269.

(Senate Bill 172)

AN ACT to repeal and re-enact, with amendments, Section
248 of Article 81 of the Annotated Code of Maryland
(1939 Edition), title "Revenue and Taxes, " sub-title
"Income Tax, " relating to refunds.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 248 of Article 81 of the Annotated Code of
Maryland (1939 Edition), title "Revenue and Taxes, " sub-
title "Income Tax, " be and it is hereby repealed and re-
enacted, with amendments, to read as follows:

248. (Refunds. ) In the event any person pays more
tax than is found to have been due, the Comptroller shall
refund the overpayment in the same manner as other
refunds are made.

In the case of a contract or contracts with the United
States or any agency thereof, or any subcontract or sub-
contracts thereunder, made by a taxpayer, if a renegotia-
tion is made in respect thereto and an amount of excessive
profits received or accrued thereunder for a taxable year
(hereinafter referred to as "prior taxable year") is elimi-
nated and, in a taxable year thereafter the taxpayer is
required to pay or repay to the United States or any agency
thereof the amount of excessive profits eliminated or the
amount of excessive profits eliminated is applied as an off-
set against other amounts due the taxpayer, then for the
purposes of this sub-title the part of the contract or sub-
contract price or prices which was or were received or
accrued for the prior taxable year shall be considered as
having been reduced by the amount of excessive profits