3062                                                VETOES

May 31, 1974.

Honorable William S. James
President of the Senate
State House
Annapolis, Maryland 21404

Dear Mr. President:

In accordance with Article II, Section 17, of the
Maryland Constitution, I have today vetoed Senate Bill
194.

This bill repeals and re—enacts, with amendments,
Article 33, Section 29-2(a) of the Annotated Code of
Maryland to include real estate acquired by deed within
the definition of interests to be disclosed under the
financial disclosure law.

Prior to amendment. Section 29-2(a) did not
specifically list real property of any kind within the
definition of interest to be disclosed. Under the
provisions of Section 29—5, however, which relate to the
contents of the financial statement which certain persons
are required to file under the "Financial Disclosure
Act", all interests with respect to any real property in
or outside of the State must be disclosed.

In light of the provisions of Section 29—5, Senate
Bill 194, by the specific inclusion of real estate
acquired by deed, may be construed as excluding from
disclosure any real estate not acquired by deed, thereby
creating a situation obviously contrary to the purposes
intended by the Financial Disclosure Act. If Senate Bill
194, however, is construed in accordance with its stated
purpose, i.e., to include real estate acquired by deed
under those interests to be disclosed, then the bill is
unnecessary, as this purpose is already accomplished by
Section 29-5.

For these reasons, I have decided to veto Senate
Bill 194.

Sincerely,

/s/ Marvin Mandel

Governor

Senate Bill No. 302 — Baltimore City
Public Building Bonds

AN ACT concerning