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2710
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Ch. 672
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LAWS OF MARYLAND
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(1) Transfer and credit [25] 20 percent of
this money to the general funds of this State; and
(2) As to the rest:
(i) First, use it to the extent
required for debt service on any outstanding and unpaid
State highway construction bonds; and
(ii) Then, transfer any balance to the
transportation trust fund.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1977.
Approved May 26, 1977.
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CHAPTER 673
(Senate Bill 351)
AN ACT concerning
Boats - Titling Tax
FOR the purpose of increasing the titling tax, payable to
the Department of Natural Resources, imposed upon
the gross sales price or the fair market value of
certain vessels at the time of the sale, resale, or
transfer of the vessel.
BY repealing and reenacting, with amendments,
Article — Natural Resources
Section 8-716(b)
Annotated Code of Maryland
(1974 Volume and 1976 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 8-716(b) of Article - Natural
Resources, of the Annotated Code of Maryland (1974 Volume
and 1976 Supplement) be and it is hereby repealed and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
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