BLAIR LEE III, Acting Governor                         1173

taking effect, then this Act shall be null and void in its
entirety.

SECTION 5. AND BE IT FURTHER ENACTED, That, subject to
the provisions of Section 3, this Act shall take effect June
1, 1978.

Approved May 2, 1978.

CHAPTER 175

(House Bill 766)

AN ACT concerning

Real Property — Assessments

FOR the purpose of separately subclassifying real property
for assessment purposes; defining homestead property;
providing for an additional, special allowance of 5
percent of current value to be used in calculating the
full cash value of homestead property for purposes of
assessment; providing that certain taxpayers may file a
late claim for certain excess taxes paid; specifying
the inflation allowance for all real property;
authorizing the State Department of Assessments and
Taxation to amend the constant yield tax rate, on or
before a certain date, for the taxable year beginning
July 1, 1978; exempting the taxing authority from
certain procedural requirements to be followed for the
taxable year beginning July 1, 1978 in order to
increase the local tax rate; providing certain

exceptions; providing__for the administration of this

Act; repealing obsolete language; making tho enactment
of this Act contingent upon tho taking effect of
certain other Acts; and providing that this Act is an
emergency measure.

BY repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes

Section 14(a) and (b)(1) and 232C(b) and (d)

Annotated Code of Maryland

(1975 Replacement Volume and 1977 Supplement)

BY adding to

Article 81 — Revenue and Taxes

Section 14A

Annotated Code of Maryland

(1975 Replacement Volume and 1977 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF