1102 LAWS OF MARYLAND [CH. 595

in business shall be assessed at seventy-five percentum
(75%) of such fair average value for the twelve months
preceding the date of finality. Provided, however, that
any such stock in business which is assessed at seventy-five
percentum (75%) of such fair value shall not be allowed
the exemption in the amount of at least twenty-five per-
centum (25%) of the total assessed valuation which is
provided in sub-section 8 (24). ANY PROVISIONS IN
THIS SECTION FOR THE ASSESSING OF STOCK IN
BUSINESS AT LESS THAN FAIR AVERAGE VALUE
SHALL BE DISREGARDED FOR THE PURPOSES OF
COMPUTING PAYMENTS TO THE SEVERAL POLITI-
CAL SUB-DIVISIONS FOR THE EQUALIZATION AND
INCENTIVE FUNDS PROVIDED FOR IN ARTICLE
77 OF THIS CODE. FOR THE PURPOSES OF COM-
PUTING SUCH PAYMENTS UNDER THE EQUALIZA-
TION AND INCENTIVE FUNDS, ALL STOCK IN
BUSINESS SHALL BE CONSIDERED AS ASSESSED
AT ITS FAIR AVERAGE VALUE FOR THE TWELVE
MONTHS PRECEDING THE DATE OF FINALITY.

Sec. 2. And be it further enacted, That this Act shall
take effect June 1, 1953.

SEC. 2. AND BE IT FURTHER ENACTED, THAT
THIS ACT IS HEREBY DECLARED TO BE AN EMER-
GENCY LAW AND NECESSARY FOR THE IMMEDI-
ATE 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, THE SAME SHALL TAKE EFFECT FROM
THE DATE OF ITS PASSAGE.

Approved April 27, 1953.

CHAPTER 595
(Senate Bill 199)

AN ACT to add seven new sections to Article 89B of the
Annotated Code of Maryland (1951 Edition), title "State

——————

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.