1256

LAWS OF MARYLAND

Ch. 472

SECTION 19. AND BE IT FURTHER ENACTED, That Section
26 of Article 78B — Racing Commission, of the Annotated
Code of Maryland (1975 Replacement Volume and 1975
Supplement) be and it is hereby repealed and reenacted,
with amendments, to read as follows:

Article 78B — Racing Commission

26.

Should any of the sections or parts of sections
contained in this article be held to be unconstitutional
and void by [the Court of Appeals of this State] A COURT,
it is hereby expressly declared that the remaining
sections or parts of sections of said article are not to
be invalidated thereby, but are to remain in full force
and effect as if the sections or parts of sections held
unconstitutional had never been enacted.

SECTION 20. AND BE IT FURTHER ENACTED, That Section
160 of Article 81 — Revenue and Taxes, of the Annotated
Code of Maryland (1975 Replacement Volume and 197 5
Supplement) be and it is hereby repealed and reenacted,
with amendments, to read as follows:

Article 81 — Revenue and Taxes

160.

Whenever any life estate, or interest for a term of
years or other interest less than an absolute interest,
in trust or otherwise, shall pass to a person, and a
contingent or remainder or reversionary interest shall
pass to another person, the orphans' court of the county
or city in which administration is granted, or any other
court having jurisdiction over the administration or
distribution of such property, shall determine, for the
purpose of ascertaining the tax thereon and before any
distribution thereof shall be authorized, the value of
the life estate, or interest for a term of years, or
other interest less than an absolute interest, in
accordance with the applicable and effective regulations
of the federal estate tax under the Internal Revenue Code
as promulgated by the United States Treasury Department,
Internal Revenue Service, as such regulations may be
amended from time to time; provided, however, that if
such interest is valued, as provided in accordance with
said regulations, in any account filed in the orphans'
court of the county or city in which administration is
granted, or any other court having jurisdiction over the
administration or distribution of such property, no
separate petition and order therefor shall be needed, and
the approval of such account shall be deemed a
determination of the value of such interest by such
court, for the purpose of ascertaining the tax thereon;
and, provided further, however, that when such interest
depends upon or is measured by the duration of the life
of a person whose life expectancy is shown to be less