380                                 Laws of Maryland                        [Ch. 124

annum] in excess of the applicable rate determined by the Board,
payable semiannually, computed with relation to the absolute matur-
ity of the bonds according to standard tables of bond values; [pro-
vided that such limitation on the net interest cost shall not be
applied to any bonds which are payable solely from contributions or
other payments to be made by the federal government.] deducting
the amount of any premium to be paid on the redemption of any
bonds prior to maturity. All bonds issued and sold pursuant to this
title may be sold in such manner, either at public or private sale, as
the Board shall determine.

Sec. 2. And be it further enacted, That the provisions of this
Act shall be severable and if any phrase, clause, sentence or provision
of this Act is declared to be unconstitutional or the applicability
thereof to any signatory party, Political Subdivision or agency thereof
is held invalid, the constitutionality of the remainder of this Act and
the applicability thereof to any other signatory party, Political Sub-
division or agency thereof or circumstance shall not be affected
thereby. It is the legislative intent that the provisions of this Act be
reasonably and liberally construed.

Sec. 3. And be it further enacted, That this Act is hereby declared
to be an emergency measure and necessary for the immediate pres-
ervation of the public health and safety and having been passed by a
yea and nay vote supported by three fifths of all the members elected
to each of the two houses of the General Assembly, the same shall
take effect from the date of its passage.

Approved April 23, 1971.

CHAPTER 124
(House Bill 139)

AN ACT to repeal and re-enact, with amendments, Section 12F.(c)
of Article 81 of the Annotated Code of Maryland (1969 Replace-
ment Volume), as amended, title "Revenue and Taxes," to provide
for a tax credit for disability under the Railroad Retirement Act
for certain homeowners.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 12F.(c) of Article 81 of the Annotated Code of Mary-
land (1969 Replacement Volume), title "Revenue and Taxes," be and
it is hereby repealed and re-enacted with amendments, to read as
follows:

12F.

(c) Amount of credit and application therefor.—There shall be
allowed upon the application of any homeowner who shall have
attained the age of sixty-five years by the July 1 which is the first
day of the taxable year for which the credit is sought, or there may
be allowed upon the application of any homeowner who has not
attained the age of sixty-five years and who receives benefits as a