1744                                   LAWS OF MARYLAND                              Ch. 621

Low v. Austin was reversed by Michelin Tire
Corporation v. 9. L. Wages, Tax Commissioner, 96 S. Ct.
535 (1976), wherein the Court determined that the
inventories of the importer in the original package are
subject to local ad valorem taxation.

It is necessary for the economic well being of the
[[City of Baltimore to continue the exemption of]] State
of Maryland to provide an exemption for the purposes of
personal property taxation of the inventories of the
importer in the original package, thereby aiding the
economic condition of the [[City]] State by attracting
and retaining commerce; now, therefore,

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 9A(e)(7) be and it is hereby
added to Article 81 — Revenue and Taxes, of the Annotated
Code of Maryland (1975 Replacement Volume and 1975
Supplement) to read as follows:

Article 81 — Revenue and Taxes

9A.

(e) (7) [[THE MAYOR AND CITY COUNCIL OF
BALTIMORE MAY BY ORDINANCE]] THE GOVERNING BODY OF ANY
COUNTY OR BALTIMORE CITY MAY BY ORDINANCE OR RESOLUTION
GRANT AN EXEMPTION FROM ORDINARY TAXATION TO THE
INVENTORY OF FOREIGN IMPORTS OF BUSINESSES ENGAGED IN
IMPORTING ([AND LOCATED IN BALTIMORE CITY]] IF THE
IMPORTED PROPERTY IS IN THE HANDS OF THE IMPORTER AND IS
IN THE ORIGINAL PACKAGE.

SECTION 2. AND BE IT FURTHER ENACTED, That all laws
of parts of laws, public general or public local,
inconsistent with this Act, are repealed to the extent of
the inconsistency.

SECTION 3. AND BE IT FURTHER ENACTED, That this   Act

shall be construed only prospectively and may not     be

applied or interpreted to have any effect upon     or

application to any event or happening occurring prior     to
the effective date of this Act.

SECTION 4. AND BE IT FURTHER ENACTED, That this Act
is hereby declared to be an emergency measure and
necessary for the immediate preservation of the public
health and safety and having been passed by a yea and nay
vote supported by three—fifths of all the members elected
to each of the two Houses of the General Assembly, the
same shall take effect from the date of its passage.

Approved May 17, 1976.