2956                                                 LAWS OF MARYLAND                          [Ch. 884

Article 81 - Revenue and Taxes

283.

(c) Any local income tax imposed under the

provisions of this section shall be administered by the

Comptroller of the Treasury who shall collect and account

for the revenue, crediting all such funds to a local

income tax fund hereby established in the State treasury.
Local income taxes imposed pursuant to this section shall

be subject to the provisions of §312 of this subtitle

relating generally to withholding at the source,

declaration of estimated tax due, and remittance thereof

to the Comptroller.

After deducting the cost of any refunds and the

prorated share of the cost of operating the Income Tax

Division, the Comptroller shall pay over the balance to

the appropriate local fiscal authority. All such

payments shall be made by the Comptroller as soon as

practicable. As often as practicable but not less

frequently than every calendar quarter the Comptroller

shall pay over and distribute to the incorporated

municipalities of the State the respective amount to

which they may be estimated to become entitled under the

provisions of § 323(a) of this article, and to the

counties of the State and to Baltimore City the

respective amounts to which they may be estimated to

become entitled under the provisions of this section

which have been received in the form of withholding and

estimated taxes paid. Provided, however, that for all

calendar years beginning after December 31, 1969, and

thereafter the Comptroller shall, prior to the last day

of the State fiscal year, pay over and distribute to the

appropriate local fiscal authority of the counties of

this State and to Baltimore City the respective amounts

to which they may be estimated to become entitled under

the provisions of this section which have been received

in the form of withholding taxes paid on a monthly basis

for the months of April and May in accordance with

§312(h) (2) of this subtitle.

In determining each subdivision's prorated share of

the cost of administering this subtitle, the Comptroller

shall apportion the cost of operating the Income Tax

Division in the ratio which the collections of each

political subdivision and the State bear to the total

collections under this subtitle.

THE POLITICAL SUBDIVISIONS OF THE STATE ARE

AUTHORIZED TO ADOPT THE ACCRUAL METHOD FOR REPORTING

REVENUES FOR PURPOSES OF PREPARING AND REVISING ANY OF

THEIR ANNUAL BUDGETS, COMMENCING WITH THE BUDGET FOR THE

FISCAL YEAR ENDING JUNE 30, 1974. WITH RESPECT TO ANY