4044

VETOES

State Aid for Police Protection Fund —

[[Population Density]] Increase Aid, Inheritance Tax —

Tax on Collaterals, Income Tax — Definition of Net

Income, and Cigarette Tax — Increase in Rate

FOR the purpose of increasing the aid [[to certain
subdivisions with a population density above a
certain percentage]] to the counties and

municipalities from the State Aid for Police

Protection Fund by changing per capita amounts,

adjusting population densities and percent of

population in municipalities, and increasing__the

minimum guarantee; providing a certain inheritance
tax rate on every certain amount, of clear value of
property having a taxable situs in this State;
deleting from modifications made with respect to the
net income of a corporation (1) the subtraction of
50 percent of the excess of net long-term capital
gain over short—term capital loss and (2) the
addition of the net operating loss deduction as
defined in Section 172 of the Internal Revenue Code;
deleting from the modifications made with respect to
the net income of an individual taxpayer the
addition of the net operating loss as defined in
Section 172 of the Internal Revenue Code; increasing
the tax on cigarettes, changing the discount and
method of distributing the revenues from the tax on
cigarettes; providing for an appropriation for the
1975—1976 fiscal year of the funds necessary for the
increasing State Aid for Police Protection; and
relating generally to increasing State Aid for
Police Protection through imposing an increase in
the tax on certain inheritances, adjustments in the
definition of net income, and an increase in the tax
on cigarettes.

May 15, 1975.
Honorable John Hanson Briscoe
Speaker of the House of Delegates
State House
Annapolis, Maryland

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the
Maryland Constitution, I have today vetoed House Bill
1170.

This bill, after a tortured legislative history,
ended up as a supplementary appropriation bill,
appropriating the sum of $11,551,500 for additional
police protection aid to the subdivisions. To finance
the appropriation, the cigarette tax was increased from
six-cents to eight cents a pack, certain adjustments were