170                               LAWS OF MARYLAND                        [CH. 142

of subparagraphs (1) and (2) of this subsection before including such
amounts in the calculation of funds due each county and Baltimore
City.

(7) The State Superintendent of Schools shall certify to the
Comptroller on or before the last day of July and September, the
tenth day of December and the last day of January, March, and
May, one-sixth each of the sum due the county board of education
of each county qualified to participate in this school building con-
struction aid program and the City of Baltimore if it is so qualified.
Thereupon the Comptroller within five days of the above said dates
shall draw his warrant on the Treasurer of the State of Maryland
for the respective amounts due the boards of education of each
county and due the City of Baltimore, and the Treasurer of the
State of Maryland, upon receipt of said warrants shall immediately
pay the amounts due to the City of Baltimore and the respective
boards of education.

_m If for any year the appropriation for the school building construc-
tion fund is insufficient to pay all costs due therefrom, all eligible
projects shall be reduced proportionately and any such reduction
shall be included in the next State appropriation and any payments
so withheld shall be made.

(C) WHEREVER REFERENCE IS MADE IN ANY PUBLIC
GENERAL OR PUBLIC LOCAL LAW TO THE INCENTIVE
FUND FOR SCHOOL BUILDINGS, THIS REFERENCE AFTER
JULY 1, 1967, SHALL MEAN THE SCHOOL BUILDING CON-
STRUCTION AID PROGRAM ESTABLISHED UNDER THIS
SECTION.

Sec. 3. And be it further enacted, That new Section 8A be and
it is hereby added to Article 81 of the Annotated Code of Maryland
(1965 Replacement Volume), title "Revenue and Taxes," subtitle
"What Shall Be Taxed and Where," to follow immediately after
Section 8 thereof, to read as follows:

8A.

Except to the extent prohibited by Section 269 of this Article,
and except where a mandatory rate of reduction is otherwise pre-
scribed by this Article, any county of this State by appropriate
resolution of its governing body shall have the power to eliminate
or phase out, by a reduction in the assessed basis, county taxes
upon one or more classes of business personal property. "Business
personal property" as used herein means inventory, furniture and
fixtures, tools, machinery, equipment and supplies of any commercial,
manufacturing or professional business, or of any farmer.

Sec. 4. And be it further enacted, That new Section 12F be and
it is hereby added to Article 81 of the Annotated Code of Maryland
(1965 Replacement Volume and 1966 Supplement), Title "Revenue
and Taxes," Subtitle, "What Shall Be Taxed and Where," to follow
immediately after Section 12E thereof, and that new Section 49C be
and it hereby is added to said Article (1965 Replacement Volume)
and title, Subtitle "When Taxes Are Payable," to follow immedi-
ately after Section 49B thereof, to read as follows: