1230                            LAWS OF MARYLAND                     [CH. 696

Section 160, [the person entitled to the property after the termina-
tion of such estate, by way of contingent interest, remainder or
reversion, may apply] application may be made by, or on behalf of,
any person or persons or class or classes of persons, whether or not
then in being, who may have in such property an interest which has
vested or may vest in possession during the continuance of the period
of the interest so valued under Section 160, or which may (under
the terms of the instrument creating the interests) vest in possession
at some time after the termination of such valued interest, to the
orphans' court, or other court having jurisdiction, for the valuation
of such [contingent interest, remainder or reversion] concurrent
or subsequent interest. In making such valuation, the court shall
determine the value of the whole corpus and [deduce] deduct there-
from the value of the preceding or concurrent estate or estates, to
the end that the tax collected shall equal but not exceed that which
would have been payable[,] if any absolute interest in such prop-
erty had passed. The tax so ascertained shall be paid within thirty
days from its ascertainment.

(b)    In the event any interest shall ultimately vest in possession
in someone other than the person by or on whose behalf application
may have been made (and the tax paid thereon) under subsection
(a) hereof, such person shall pay a tax according to his relationship
to the original decedent and based upon the value of the property
or interest therein at the time when the same vests in possession;
provided, however, that the tax or taxes previously paid with respect
to such property shall be credited to such new tax and only the
balance shall be assessed.

(c)    [But if said person entitled to the property after the ter-
mination of the preceding estate shall fail to apply] If no application
for the payment of a tax at the rate of either 1% or 7½%, or a
proper combination of the two, as hereinbefore provided, shall have
been made to the orphans' court within a reasonable time after the
valuation of the preceding [estate] or concurrent interest, or [to
pay] if the tax so assessed after application shall not have been pre-
paid within thirty days from the date of such determination, then
[such] the person who shall ultimately receive a concurrent or
subsequent interest in such property shall, at the time when the
same vests in possession [at the termination of the preceding es-
tate], pay a tax [on] based upon the whole value thereof as of the
date of such vesting, without deduction of the tax or taxes previously
paid [. Upon the termination of said preceding estate], and the
orphans' court, or other court having jurisdiction, shall so value the
[property] interest [as of the date when the same vests in posses-
sion,] and assess the tax [thereon] based upon such value. The
tax so ascertained shall be and remain a lien upon [said] the prop-
erty subject to such interest for a period of four years from the date
when the same vests in possession. Any order or determination under
this section shall be subject to the same right of appeal as provided
in Section 160.

(d)    In the event of full payment under the provisions of this
section, a subsequent invasion of corpus by or on behalf of any person
under the provisions of the instrument creating such interests shall
not be subject to any inheritance tax thereon except to the extent
that the rate of tax attributable to such person exceeds the rate
theretofore paid hereunder, if any.