1032

LAWS OF MARYLAND

Ch. 391

(House Bill 561)

AN ACT concerning

Boat Title Taxes

FOR the purpose of providing for collection of the boat
title tax[[; providing a certain commission for a
dealer who collects the tax for the Department of
Natural Resources; and enabling the Department to
compute the taxes owed, levy deficiency assessments
and penalties, and establish rules and regulations
in connection with collection of the taxes]] by the
Department of Natural Resources.

BY repealing and reenacting, with amendments,

Article — Natural Resources
Section 8-716(b) [[and (c)]]
Annotated Code of Maryland
(1974 Volume and 1975, Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That [[Sections 8-716(b) and (c)]] Section
8—716(b) of Article — Natural Resources, of the Annotated
Code of Maryland (1974 Volume and 1975 Supplement) be and
[[they are]] it is hereby repealed and reenacted, with
amendments, to read as follows:

Article — Natural Resources

8-716.

(b) Except as provided in subsection (d) of §
8—715 and in subsection (c) of this section, and in
addition to the fees prescribed in subsection (a) of this
section, a title tax is levied on the issuance of every
original certificate of title required for a vessel under
this subtitle, and on the issuance of every subsequent
certificate of title for the sale, resale, or transfer of
the vessel as follows:

(1)        The [applicant for a certificate of
title shall pay the] [[department]] DEPARTMENT SHALL
COLLECT a tax at the rate of 4 percent of the gross sales
price[,] or, if no sale immediately precedes the
application for title, the fair market value of the
vessel for which a certificate of title is applied for
and issued. The department may require the applicant to
submit satisfactory proof of the vessel's gross sales
price or fair market value in order to establish the tax
due.

(2)        The tax imposed by this subsection is in
lieu of collecting any tax on the sale of vessel required
under [§§ 325 or 373 of] Article 81 [of the Code], §§ 325
OR 373 unless otherwise exempt from the tax.