MARVIN MANDEL, Governor                      1715

their adoption or rejection in pursuance of directions contained in
Article XIV of the Constitution of this State, and at the said general
election, the vote on the said proposed amendment to the Constitution
shall be by ballot, and upon each ballot there shall be printed the
words "For the Constitutional Amendment" and "Against the Con-
stitutional Amendment" as now provided by law, and immediately
after said election, all returns shall be made to the Governor of the
vote for and against said proposed amendment, as directed by Article
XIV of the Constitution, and further proceedings had in accordance
with said Article XIV.

Approved May 21, 1969.

CHAPTER 792
(Senate Bill 66)

AN ACT to add new Section 15(b-7) to Article 81 of the Annotated
Code of Maryland (1965 Replacement Volume and 1968 Supple-
ment) , title "Revenue and Taxes," subtitle "Method of Assessment,"
to follow immediately after Section 15 (b-6) thereof, and to repeal
and re-enact, with amendments, Section 15(d) of said Article and
subtitle of the Code, to change the rate of assessment for purposes
of county taxation of the stock in business persons engaged in
Calvert County in any manufacturing or commercial business in
order to provide for the total exemption of such stock in business
gradually over a period of years.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 15(b-7) be and it is hereby added to Article 81 of
the Annotated Code of Maryland (1965 Replacement Volume and
1968 Supplement), title "Revenue and Taxes," subtitle "Method of
Assessment," to follow immediately after Section 15 (b-6) thereof,
and that Section 15 (d) of the said Article and subtitle of the Code,
be and it is hereby repealed and re-enacted, with amendments, all
to read as follows:

15.

(b-7) For the purpose of county taxation in Calvert County

such stock in business shall be assessed at the rate of fifty percentum
(50%) of fair average value for the twelve months ending December
31, 1969; and at the rate of forty percentum (40%) of fair average

value for the twelve months ending December 31, 1970; and at the

rate of thirty percentum (30%) of fair average value for the twelve

months ending December 31, 1971. The assessment shall be

diminished by ten percentum (10%) annually in regular progression
in succeeding years until on and after December 31, 1972, when, for
the purposes of county taxation FOR PURPOSES OF COUNTY
TAXATION IN CALVERT COUNTY, FROM AND AFTER JUNE
30, 1969, such stock in business shall be entirely exempt from valua-
tion, assessment, and taxation under the provisions of this section.

(d) For the purpose of county taxation in Allegany, Baltimore,
[Calvert,] Caroline, Cecil, Charles, Dorchester, Frederick, Garrett,

&n