MARVIN MANDEL, Governor

2051

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1974 Supplement) be and it is hereby repealed      and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 clerks 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) hereof filed with the State Department of
Assessments and Taxation, EXCEPT FOR LIENS OF
ENCUMBRANCES UPON VEHICLES WHICH ARE FILED AND OFFERED
FOR RECORD WITH THE MOTOR VEHICLE ADMINISTRATION,
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
Uniform Commercial Code used to publicize any of [such]
THE types of a secured transaction which prior to
enactment hereof were subject to the tax hereby imposed
but shall not include mechanic's liens, crop liens, or
security agreements relating to farm products or
equipment used in farming operations, purchase—money
mortgages, assignments of mortgages, conditional sales
contracts or other purchase—money security agreements or
a security agreement relating to the assignment of
contract rights, accounts, general intangibles or
inventory as these terms are defined in the Uniform
Commercial Code or a filed financing statement under the
Uniform Commercial Code used to publicize any of the
same, judgments, releases or orders of satisfaction.

SECTION 4. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved April 22, 1975.

CHAPTER 313
(Senate Bill 338)