236 LAWS OF MARYLAND [CH. 66

section having been enacted by Chapter 651 of the Acts
of 1953, relating to the effect of certain tax exemptions
or reduced ratios of assessment upon payment to the
several political sub-divisions from the School Equali-
zation Fund and Incentive Fund for School Instruction
and providing that all Acts or parts of Acts inconsist-
ent with the provisions herewith shall be repealed to
the extent of such inconsistency.

SECTION 1. Be it enacted by the General Assembly oj Maryland,
That Section 209A of Article 77 of the Annotated Code
of Maryland (1951 Edition), title "Public Education",
sub-title "Chapter 19. Source and Distribution of In-
come", said section having been enacted by Chapter 651
of the Acts of 1953, be and it is hereby repealed and
re-enacted, with amendments, to read as follows:

209A. The total of the assessable property of any
county or the City of Baltimore eligible under the provi-
sions of Section 209 to share in the Equalization Fund
and Incentive Fund for School Construction shall [not]
be reduced by the grant by such political sub-division
made by virtue of any law or pursuant to law of any total
or partial tax exemption or reduced ratio of valuation
and assessment to or for the benefit of tools, improve-
ments, machinery, manufacturing apparatus or engines,
or inventories and stock in business. The amount of such
total or partial tax exemption or reduced ratio of valua-
tion and assessment shall not be taken into account and
shall not be added to the assessment for county and city
taxation as shown by the tax rolls of such political sub-
division in determining the total assessable basis used in
such political sub-division for the purpose of calculating
the amount of equalization aid and incentive fund aid for
school construction purposes which such political sub-
division may be entitled to receive, and for the purpose
of determining the amount of financial support from such
political sub-division to meet the requirements for par-
ticipation in the equalization and incentive funds.

SEC. 2. And be it further enacted, That all Acts and
parts of Acts inconsistent with the provisions of this Act
he and the same are hereby repealed to the extent of such
inconsistency.

SEC. 3. And be it further enacted, That this Act shall
take effect June 1, 1954.

Approved April 2, 1954.