1662                              Laws of Maryland                       [Ch. 898

CHAPTER 898
(House Bill 692)

AN ACT to repeal Section 15 (c) of Article 81 of the Annotated Code
of Maryland (1960 Supplement), title "Revenue and Taxes", sub-
title "Method of Assessment", and to enact new Section 15 (c) in
lieu thereof, to stand in the place of the section repealed, to change
the assessment of stock in business of manufacturers, processors,
AND WAREHOUSERS, wholesalers and retailers in Washington
County; AND DEFINING THE TERMS "MANUFACTURING"
AND "WAREHOUSING" FOR THE PURPOSES OF THIS ACT.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 15 (c) of Article 81 of the Annotated Code of Maryland
(1960 Supplement), title "Revenue and Taxes", sub-title "Method
of Assessment", be and it is hereby repealed, and new Section 15 (c)
be and it is hereby enacted, to stand in the place of the section re-
pealed, and to read as follows:

15(c).

1. For county taxation in Washington County the stock in trade of
every person, firm or corporation engaged in any manufacturing or,
processing OR WAREHOUSING business, or any wholesale business
shall be assessed at forty-two per centum (42%) of fair average value
for the twelve months preceding the date of finality in the year 1962;
and at twenty-eight per centum (28%) for the twelve months preced-
ing the date of finality in the year 1963; AND AT FOURTEEN PER
CENTUM (14%) FOR THE TWELVE MONTHS PRECEDING
THE DATE OF FINALITY IN THE YEAR 1964; and for the twelve
months preceding the date of finality in 1964 1965 and for every
twelve months thereafter preceding any date of finality subsequent
to that in the year 1964 1965 shall be exempt from assessment and
taxation.

2.  For county taxation in Washington County the stock in trade
of every person, firm or corporation engaged in any retail OR
WHOLESALE business shall be assessed at fifty per centum (50%)
of such fair average value for the twelve months preceding the date
of finality in the year 1962 and in every year thereafter.

3. FOR THE PURPOSES OF THIS SUB-SECTION THE TERMS
"WAREHOUSER" OR "ENGAGING IN THE BUSINESS OF
WAREHOUSING" APPLY TO A PERSON, FIRM, OR CORPORA-
TION ENGAGED ONLY IN THE BUSINESS OF WAREHOUS-
ING MERCHANDISE AS A DISTRIBUTION CENTER AND
HAVING NEITHER RETAIL NOR WHOLESALE SALES PER-
SONS. ALSO FOR THE PURPOSES OF THIS SUB-SECTION
THE TERMS "MANUFACTURER" OR "ENGAGING IN MANU-
FACTURING" APPLY TO ANY PERSON, FIRM, OR CORPORA-

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.