1438                             Laws of Maryland                      [Ch. 678

CHAPTER 677
(Senate Bill 744)

AN ACT to add new Section 2A to Article 15A of the Annotated Code
of Maryland (1968 Replacement Volume) and (1970 Supplement),
title "Budget and Fiscal Planning," subtitle "Budgetary Admin-
istration," to follow immediately after Section 2 thereof, to pro-
vide that State agencies with unexpended funds produced by bond
sales shall forward such funds to the State Treasurer.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 2A be and it is hereby added to Article 15A of the
Annotated Code of Maryland (1968 Replacement Volume), and (1970
Supplement), title "Budget and Fiscal Planning," subtitle "Budgetary
Administration," to follow immediately after Section 2 thereof,
and to read as follows:

Any department, board, commission, institution or other agency of
this State which receives funds for a particular project from the
sale of bonds OR OTHER OBLIGATIONS OF THIS STATE and
has unexpended funds on hand when the particular project is com-
pleted shall forward the funds with a complete explanation to the
State Treasurer, who shall deposit all such funds in the Bond An-
nuity Fund or similar fund which is used to pay interest and prin-
cipal on State bonds.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1971.

Approved May 24, 1971.

CHAPTER 678
(Senate Bill 774)

AN ACT to repeal Sections 266J through 266CC, inclusive, AND
RE-ENACT, WITH AMENDMENTS, SECTIONS 266-0 (3) AND
(8) of Article 41 of the Annotated Code of Maryland (1965 Re-
placement Volume and 1970 Supplement), title "Governor—Exec-
utive and Administrative Departments," subtitle "Department of
Economic and Community Development," subheading "Maryland
Industrial Development Financing Authority Act," to repeal in its
entirety the law relating to the Maryland Industrial Development
Financing Authority, and its powers and duties. AND TO ADD
NEW SECTION 266WA TO THE SAID ARTICLE, SUBTITLE
AND SUBHEADING OF THE CODE, TO FOLLOW IMMEDI-
ATELY AFTER SECTION 266W THEREOF, TO EXPAND
THE DEFINITION OF THE KINDS OF INDUSTRIAL PROJ-
ECTS AND THE DEFINITION OF "MORTGAGOR" UNDER
THE MARYLAND INDUSTRIAL DEVELOPMENT FINAN-
CING AUTHORITY ACT, AND TO PERMIT INDUSTRIES
APPLYING FOR THE BENEFITS OF THE ACT TO BECOME
THE MORTGAGOR OF AN INDUSTRIAL PROJECT.

2A.