MARVIN MANDEL, Governor                            31

SECTION 6. AND BE IT FURTHER ENACTED, That for the
fiscal year 1976 only, and from only those funds provided
by the proceeds of the increase in the tax on certain
inheritances, adjustments in the definition of net
income, additional quarterly withholding tax collections,
the increase in the tax on cigarettes and the change in
the distribution of the cigarette tax due as provided by
the amendments to Sections 150, 280(b), 280A(b) and (c),
312(h)(2), 433, 434 and 460 of Article 81 added by the
general repeal and re—enactment thereof as provided in
Section 5 of this Act, and from no other funds; and
subject to the provisions of law relating to budgetary
procedure to the extent applicable, the amount specified
below, or so much thereof as is sufficient to accomplish
the purpose designated, is hereby appropriated and
authorized to be disbursed from so much of the revenues
as are received by the State from the proceeds of the
increase in the tax on certain inheritances, adjustments
in definition of net income, additional quarterly
withholding tax collections, the increase in the tax on
cigarettes and change in distribution of the cigarette
tax due as provided in Section 5 of this Act as
aforesaid:

24.03.00.07 State Reimbursement of Property Tax
Credit to Baltimore City and Counties of the State: The
amount of reimbursement due them in accordance with
Article 81, Section 12F—1 of the Annotated Code for the
purpose of reimbursement for property tax revenues not
collected due to the "Property Tax Credit Program" the
amount here being an estimate, it being the intention
that the amount reimbursed shall be based on actual
property tax revenues not collected...........$15,186,000

SECTION 7. AND BE IT FURTHER ENACTED, That the
provisions of Section 5 that are applicable to the
adjustments in the definition of net income shall be
applicable to all taxable years beginning after December
31, 1974.

SECTION 8. AND BE IT FURTHER ENACTED, That as of the
effective date of this Act all cigarettes used, possessed
or held in the State of Maryland by any person for sale
or use in the State of Maryland shall be subject to the
full tax imposed by this Act. This requirement includes
(1) cigarettes in vending machines or other mechanical
dispensers; and (2) cigarettes (generally referred to as
"floor stock") in packages which already bear stamps
issued by the Comptroller under the State Tobacco Tax
Act, but for an amount less than the full tax imposed of
five cents (5¢) for each ten cigarettes or fractional
part thereof; all cigarettes held for sale by any person