MARVIN MANDEL, Governor

1363

3-112.

(a) In order to keep the land assessment records
current in each county, the Department [may] SHALL
require a corporation to submit with the articles a
property certificate for each county where a merging
corporation other than the successor, a consolidating
corporation, or a transferor corporation owns an interest
in land.

3-112,

(d) (1) The property certificate shall:

(I)    provide a deed reference or other
description sufficient to identify the property [.]; AND

(II)   STATE THE [[CURRENT MARKET VALUE
OF THE PROPERTY.]] ACTUAL CONSIDERATION PAID OR TO BE
PAID FOR THE PROPERTY.

(2) The Department shall indicate on the
certificate the time the articles are accepted for record
and send a copy of it to the chief assessor of the county
where the property is located.

SECTION 2. AND BE IT FURTHER ENACTED, That Section
277(a) of Article 81 — Revenue and Taxes, of the
Annotated Code of Maryland (1969 Replacement Volume and
1974 Supplement) be and it is hereby repealed and
re—enacted, with amendments, to read as follows:

Article 81 - Revenue and Taxes

277.

(a) A tax is hereby imposed upon every instrument
of writing conveying title to real or personal property,
or creating liens or encumbrances upon real or personal
property, offered for record and recorded in this state
with the clerics of the circuit courts of the respective
counties, or the clerk of the Superior Court of Baltimore
City, and on instruments of writing described in
[subsection (s)] SUBSECTIONS (S) AND (T) hereof filed
with the State Department of Assessments and Taxation,
provided that conveyances to the State or any agency
thereof or any political subdivision of the State shall
not be subject to the tax or charge imposed by this
section. The term "instruments of writing" shall include
deeds, mortgages, chattel mortgages, bills of sale,
leases, deeds of trust, contracts and agreements, and
shall also include a filed financing statement under the