MARVIN MANDEL, Governor

1595

payment of architects' and engineers' fees[[ [ ]]; the
terms and conditions of such loan or loans to be mutually
agreed upon by the Board and the Mayor and Council,
provided:

(A)    That the principal of such loan or
loans, together with interest thereon, shall be repaid in
full to the State over a period not to exceed forty (40)
years from the time the loan funds are paid out; and

(B)    To the extent possible, the
payment of principal and interest by the Mayor and
Council on such loan or loans shall be from funds derived
from the operation of Memorial Stadium; and

(C)    Any such loan shall bear interest
at an annual rate which equals the rate of interest
payable by the State on bonds issued under the authority
of this Act for the purpose of funding such loan
hereunder[[ ] ]].

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1976.

Approved May 17, 1976.

CHAPTER 599

(Senate Bill 658)

AN ACT concerning

Racing Commission — Deduction for Breakage

FOR the purpose of allowing certain racing commission
licensees to deduct certain breakage costs from the
wager tax for the purpose of physical improvements
to a facility, subject to the approval of the
Commission.

[[BY adding to

Article 78B — Racing Commission

Section 17(b-2)

Annotated Code of Maryland

(1975 Replacement Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 17 (b-2) be and it is hereby
added to Article 78B — Racing Commission, of the
Annotated Code of Maryland (1975 Replacement Volume and