154                             LAWS OF MARYLAND                      [CH. 122

(1965 Replacement Volume), title "Revenue and Taxes", sub-title
"Rules of Construction", sub-heading "Transfer of Property Be-
tween Date of Finality and Semiannual Date of Finality Next
Following", providing generally that the transferor of tangible
personal property or stock in business, or the transferee thereof,
shall file a report of such transfer with certain public officials
within twenty (20) days from the date of such transfer, and upon
failure to do so, the transferor and the transferee shall be jointly
and severally chargeable for certain taxes.

Section 1. Be it enacted by the General Assembly of Maryland,
That Subsection (c) of Section 4A of Section 81 of the Annotated
Code of Maryland (1965 Replacement Volume), title "Revenue and
Taxes", sub-title "Rules of Construction", sub-heading "Transfer of
Property Between Date of Finality and Semiannual Date of Finality
Next Following", be and it is hereby repealed and re-enacted, with
amendments, to read as follows:

4A.

(c) Whenever any owner of tangible personal property or stock
in business made taxable by § 8 (2) and (6) of this article transfers
all of said tangible personal property or said stock in business of
which he is the owner as of the date of finality, between that date
of finality and the semiannual date of finality next following, the
owner or owners of said tangible personal property or said stock
in business shall not be chargeable for any taxes levied or to be
levied upon any assessment upon said tangible personal property
or said stock in business for the taxable year next following such
transfer and any assessment placed upon said tangible personal
property or said stock in business, and any taxes levied upon said
assessment, for the said taxable year next following, shall be abated;
provided, however, that the [owner or owners] transferor so trans-
ferring said tangible personal property or said stock in business
or the transferee thereof, files with the supervisor of assessments,
the director of the department of assessments (in Baltimore City),
or the Director of the State Department of Assessments and Tax-
ation, as the case may be, within twenty (20) days from the date
of such transfer, a report of said transfer, setting forth under
oath, an itemized description of the property involved, the date
and manner of the transfer thereof, the new owner or owners of
said property and the address or addresses of said new owner or
owners, the consideration, and such other and further information
as the Director of the State Department of Assessments and Tax-
ation, by rule, regulation, or directive, may reasonably require. Upon
the failure of either the transferor or transferee to comply with said
notice requirements within twenty (20) days from the date of such
transfer, said transferor and, transferee shall be jointly and severally
chargeable for any taxes levied or to be levied upon any assessment
upon said tangible personal property or said stock in business for
the taxable year next following such transfer. Any tangible personal
property or stock in business with respect to which any assessment
for any taxable year has been abated pursuant to the provisions of
this subsection may be treated as escaped property, within the
meaning of § 34 of this article, for that taxable year for which said
abatement has been made, and as such may be assessed to the said
new owner or owners thereof, regardless of whether or not said