Marvin Mandel, Governor                        1155

valuation of the taxpayer's property on which the shelter is located
for purposes of State and local taxation. All other such shelters shall
be valued to the extent of the difference between the increased valua-
tion of the taxpayer's property attributable to the shelter as actually
constructed and the increased valuation in the property if the other
shelter had been constructed in a manner, and of materials, similar
to that of the remainder of the building or had the structure outside
any existing building, constituting the other shelter, been constructed
in a manner and of materials similar to that of the principal resi-
dence on the property.

(B) As used in this paragraph a radiation fallout shelter is (i)
a structure outside of another building, or an addition to, or alteration
of, an existing building, or a portion of a newly constructed building
which is of a type of construction more dense than the general type of
construction of the remainder of said newly constructed building,
(ii) erected upon lands occupied for residential purposes by not more
than two families, and (iii) constructed in accordance with specifi-
cations published by the Office of Civil and Defense Mobilization of
the United States Government for one of the shelter types or designs
approved by said agency as being effective for affording protection
from radiation fallout.

(6)    In any county in which authorized by the governing body of
the county, improved airplane landing strips which are located on
property owned by private persons, firms, or corporations, which are
used by the general public, and which are licensed under the provi-
sions of Article lA of this Code, shall not be included in the valuation
of the property on which they are located for purposes of county
taxation.

(7)    In Cecil County, the following buildings located at Fair Hill
and primarily used for fund raising events for the Union Hospital of
Cecil County; farmers' grandstands, bleachers, national cup, Aintree
and Fair Hill stands, Mutual Building, green barn for races, secre-
tary's office, jockey room, toilets, main race, tea, cow, and storage
barns, water tower, grandstand cow show area, and Butler Building;
shall not be included in the valuation of the property on which
located for purposes of county taxation.

20.

(b) From the amount so ascertained as the total value of capital
stock of such corporation shall be deducted:

(1)    The assessed value of all real estate in this State owned by
such corporation.

(2)    The fair value of [the property] ships or other vessels, in-
cluding aircraft, regularly engaged in commerce, in whole or in part,
outside the territorial limits of this State and exempt under Section
[9(26)] 9A(g) of this Article.

(3)    The fair average value of fuel to the extent of the percentage
reductions or exemptions in assessed valuation authorized or pre-
scribed by Sections [8A, 9(24) and 15] 9A(d), (e), and (m) of
this Article in effect in the county and/or city in which the fuel
is located.

Sec. 2. And be it further enacted, That Sections 9A, 9B and 9C
respectively of the said Article of the Code subtitle "What Shall be