Marvin Mandel, Governor                         791

Annual report of a foreign corporation subject to the juris-
diction of this State (except insurance companies which pay
an annual filing fee of $25 to the Insurance Commissioner,
national banks, building or homestead associations, savings
and loan associations, credit unions, corporations having
no capital stock and charitable benevolent institutions)           $40

Annual report of a foreign building or homestead association,
savings and loan association or credit union subject to the
jurisdiction of this State                                                      $10

Other papers                                                                           $ 4

(b)  (1) The Department shall pay over one quarter of the record-
ing fee collected by it to the clerk of court to whom each charter
paper is transmitted for recording. The Department shall pay over
50¢ out of the special fee collected by it to the clerk of court to whom
each notice of change of principal office, and notice of change of
name or address of resident agent is transmitted for recording. The
Department shall pay over $1 out of the special fee collected by it
to the clerk of court to whom each certificate of consolidation,
merger, sale, lease, exchange or transfer is transmitted for record-
ing.

(2) One-half (50%) of all monies received by the Department in
payment of annual filing fees of domestic corporations shall be paid
into the General Fund of the State; and the other one-half (50%)
shall be paid to the county or Baltimore City wherein the principal
office of the corporation is located. If the principal office is located
in a municipal corporation within a county, the local share of monies
shall be divided equally between the county and the municipal cor-
poration. Notwithstanding this paragraph, no payment shall be
made to any municipal corporation or to Baltimore City unless it has
levied, in its current fiscal year, taxes sufficient to collect a minimum
of one dollar ($1.00) per capita in revenues and unless it has certi-
fied a copy of its tax levy to the Comptroller. Any monies which are
distributable to a municipal corporation which has failed to make
the tax levy or certification instead shall be placed into the General
Fund of the State. Per capita revenues are computed for this para-
graph by using the population figures of the latest federal census
or of an official local census, whichever is the latest.

(c)  The Department shall account quarterly to the Comptroller
for all bonus taxes and for all recording, filing or other fees collected
by the Department as in this section provided, and shall pay the
same forthwith to the State Treasurer for ([the use of the State]
distribution as required by subsection (b) of this section.

Sec. 2. And be it further enacted, That Sections 6, 280A (b)
and 313A (a) of Article 81 of the said Code (1969 Replacement
Volume and 1971 Supplement), title "Revenue and Taxes," subtitles
respectively "Classification of Taxes," and "Income Tax," be and
they are hereby repealed and re-enacted, with amendments, and
that Sections 197, 198, 199, 200, and 201, and 292 of the said Article
81, subtitles respectively "Tax on Franchise to be a Corporation,"
and "Income Tax," be and they are hereby repealed, and all to read
as follows: