J. MILLARD TAWES, Governor 49

the Contribution Fund established for the social security benefit
program available to members of the Employees' Retirement Sys-
tem, a provision that any excess in interest earnings over the
amount appropriated shall be reverted to the State Treasury.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That new Section 40 (g) be and it is hereby added to Article 73B
of the Annotated Code of Maryland (1957 Edition and 1961 Supple-
ment), title "Pensions", sub-title "Social Security Benefits", to follow
immediately after Section 40 (f) thereof, and to read as follows:

40.

(g). Notwithstanding any other provision of the law to the con-
trary, any excess in interest earnings over the amount appropriated
for any fiscal year, shall "be reverted to the State Treasury.

SEC. 2. And be it further enacted, That this Act shall take effect
June 1, 1962.

Approved March 23, 1962.

CHAPTER 11
(Senate Bill 20)

AN ACT to repeal and re-enact, with amendments, Section 9 (7) of
Article 81 of the Annotated Code of Maryland (1961 Supple-
ment), title "Revenue and Taxes", sub-title "What Shall Be Taxed
and Where", extending the tax exemption for the property tax
on certain real estate held for future use and not for investment
by any hospital or asylum not organized or conducted for profit;
and providing also an abatement as to certain taxes which may
already have been imposed thereon.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 9 (7) of Article 81 of the Annotated Code of Maryland
(1961 Supplement), title "Revenue and Taxes", sub-title "What
Shall Be Taxed and Where", be and it is hereby repealed and re-
enacted, with amendments, to read as follows:

9.

(7) Buildings and the ground not exceeding one hundred acres
in area appurtenant thereto, and necessary for the respective uses
thereof, equipment and furniture of hospitals, asylums, charitable,
fraternal or benevolent institutions or organizations incorporated
or unincorporated, no part of the net income, except sick or death
benefits, of which inures to the benefit of any private shareholder
or individual, provided such fraternal organizations are carried on
solely for the mutual benefit of their members and their beneficiaries
and not for profit and have a lodge system, with ritualistic form
of work, and representative form of government. The above exemp-
tions shall also apply to any such property held by any corporation
or trustees for the benefit of any of the aforegoing institutions or