MARVIN MANDEL, Governor                            2633

(1970 Replacement Volume and 1973 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 3-831 (a) of Article 66 1/2 -
Vehicle Laws, of the Annotated Code of Maryland (1970
Replacement Volume and 1973 Supplement) be and it is
hereby repealed and re—enacted, with amendments, to read
as follows:

Article 66 1/2 - Vehicle Laws
3-831.

(a) In addition to the charges prescribed by this
article there is levied and imposed an excise tax for the
issuance of every original certificate of title for motor
vehicles and commercial motor vehicles, in this State and
for the issuance of every subsequent certificate of title
for the motor vehicles and commercial motor vehicles in
this State, excluding house and office trailers over
[thirty (30)] 35 feet in length; motor vehicles
transferred to members of the immediate family, when
there is no money or other valuable consideration
involved in the transfer; motor vehicles repossessed
under a lien contract except where the sale of the motor
vehicle is required under the contract; motor vehicles
being transferred to a legal heir, legatee, or
distributee; motor vehicles transferred from an
individual to a partnership or corporation upon formation
of the partnership or corporation, when the individual is
a partner in the newly formed partnership or a principal
stockholder in the newly formed corporation; and
transfers of any motor vehicles exempted from the payment
of the excise tax under this section and other applicable
sections of the Annotated Code of Maryland, and the
Department of Motor Vehicles shall collect the tax upon
the issuance of every certificate of title of a motor
vehicle at the rate of four [per centum] PERCENT of the
fair market value of the motor vehicle or commercial
motor vehicle, excluding those transfers previously
exempted in this section for which a certificate of title
is applied for and issued. The excise tax is likewise
levied and imposed, and shall be collected by the
Department on each such vehicle which is registered
without delivering a certificate of title, as permitted
by § 3-109(c).

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1974.

Approved May 31, 1974.