MARVIN MANDEL, Governor                            2957

POLITICAL SUBDIVISION THAT ADOPTS THE ACCRUAL METHOD FOR
SUCH PURPOSES, THE COMPTROLLER, UPON REQUEST OF THE

FISCAL AUTHORITIES OF SUCH POLITICAL SUBDIVISION SHALL

ESTIMATE THE POLITICAL SUBDIVISION'S SHARE OF THE INCOME
TAX FOR THE MONTH OF JUNE BASED ON THE ACCRUAL METHOD AND
SHALL CERTIFY THE SAME TO THE POLITICAL SUBDIVISION BY

[[MAY]] APRIL 15TH EXCEPT THAT THE CERTIFICATION FOR

JUNE, 1974, SHALL BE MADE AS SOON AS PRACTICABLE. THE

AMOUNT ACCRUED BY THE POLITICAL SUBDIVISION FOR THE MONTH
OF JUNE IN THE FISCAL YEAR FOR WHICH THE ACCRUAL IS MADE

SHALL NOT EXCEED THE AMOUNT SO CERTIFIED BY THE

COMPTROLLER.

SECTION [[1]] 2. BE IT ENACTED BY THE GENERAL
ASSEMBLY OF MARYLAND, That Section 312(j) of Article 81 -
Revenue and Taxes, of the Annotated Code of Maryland
(1969 Replacement Volume and 1973 Supplement) be and it
is hereby repealed and re—enacted, with amendments, to
read as follows:

Article 81 - Revenue and Taxes
312.

(j) Every individual, excluding, however, a
fiduciary or fiduciaries and the estates they represent,
as defined in subsection (f) of this subtitle (§ 279) ,
receiving taxable income which is not subject to the
withholding provisions of this section shall be required
to file a declaration of his estimated tax, as specified
in this subsection. The declaration of his estimated
tax for the current year shall be filed on or before
April 15 of that year. Also, on the following [July 15]

[[JUNE 15]] JULY 15, October 15 and January 15, the

individual shall file either an amended declaration of
estimated tax for the year or an original declaration if
one has not theretofore been filed. FOR CALENDAR YEARS

BEGINNING 1975 AND THEREAFTER AN INDIVIDUAL'S ESTIMATED

TAX FOR THE CURRENT YEAR SHALL BE FILED ON OR BEFORE

APRIL 15 OF THAT YEAR. ALSO ON THE FOLLOWING JUNE 15.

OCTOBER 15 AND JANUARY 15, THE INDIVIDUAL SHALL FILE

EITHER AN AMENDED DECLARATION OF ESTIMATED TAX FOR THE

YEAR OR AN ORIGINAL DECLARATION IF ONE HAS NOT

THERETOFORE BEEN FILED. One fourth of the tax due for
the year according to the declaration of estimated tax,
or any amendment to this declaration, shall be due and
payable on each of the four dates specified hereinbefore
in this subsection. In lieu of filing a declaration of
estimated tax or an amendment thereto on January 15 as
specified hereinabove in this subsection, the individual,
at his option, may file, on or before January 31, his
final income tax return for the year, at which time any
tax remaining unpaid shall be paid in full and upon the