Theodore R. McKeldin, Governor      247

year '(hereinafter referred to as "prior taxable year") is
eliminated 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 subcontract price or prices which was or were received
or accrued for the prior taxable year shall be considered
as having ben reduced by the amount of excessive profits
eliminated and the taxpayer shall be entitled to receive
from the Comptroller a refund of the difference between
the tax paid for such prior taxable year and the tax which
he would have paid had he received in or accrued for
such prior taxable year such reduced contract or sub-
contract price or prices. All such refunds attributable to
the re-negotiation of a contract or contracts with the United
States or any agency thereof or any subcontract or sub-
contracts thereunder made by a taxpayer shall be made
in the same manner and to the same extent as other
refunds are made under and pursuant hereto.

Sec. 2. And be it further enacted, That this Act is
hereby declared to be an emergency measure and necessary
for the immediate preservation of the public health and
safety, and having been passed by a yea and nay vote,
supported by three-fifths of all of the members elected to
each of the two Houses of the General Assembly of Mary-
land, the same shall take effect from the date of its passage.

CHAPTER 29
(Senate Bill 87)

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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.