26

JOURNAL OF PROCEEDINGS

[May 12

through 24, inclusive.

Amendment No. 7 —

After line 1148 on page 26 of the printed bill,
insert the following:

"SECTION 6. AND BE IT FURTHER ENACTED, That Section
136(a) of Article 81 - Revenue and Taxes, of the

Annotated Code of Maryland (1975 Replacement Volume) be

and it is hereby repealed and re—enacted, with
amendments, to read as follows:

Article 81 - Revenue and Taxes

136.

(a) There is hereby annually levied and imposed
upon every insurance company a tax on all new and renewal
gross direct premiums allocable to this State and written
during the preceding calendar year at the rate of one
percent in the case of considerations for annuities and
[two] TWO AND ONE-HALF percent in the case of all other
premiums (except property insurance written by domestic
mutual insurance companies) without deduction for any
cause whatever except as herein proved. The tax imposed
by this section shall first be collected and paid with
respect to premiums written during the calendar year
[1963] 1975.".

Amendment No. 8 —

In line 1151 on page 26 of the printed bill, strike
the numeral "6" and insert in lieu thereof "7".

Amendment No. 9 —

Strike in their entireties the unnumbered line
following line 1153 and line 1154 on page 26 of the
printed bill and insert in lieu thereof "insurance
premiums"; and in the unnumbered line following line 1156
and in line 1157, strike "150, 280(b), 280A(b) and (c),
312(h)(2)," and insert in lieu thereof "136(a)".

Amendment No. 10 -

In line 1159 on page 26 of the printed bill, strike
"Section 5" and insert in lieu thereof "Sections 5 and
6".

Amendment No. 11 —