BLAIR LEE III, Acting Governor                          959

subtraction shall be reduced by the amount of old age,
survivors, or disability benefits received under the Social
Security Act, the Railroad Retirement Act, or both, as the
case may be; (4) in the case of persons retired prior to
January 1, 1967, payments received which represent uncovered
contributions to a retirement system over and above any
amount of such contributions remaining to be recovered tax
free on the federal return, limited to an amount which
together with the amount of any tax—free exclusion in the
federal return does not exceed the exclusion which was
permitted under the laws and regulations of this State prior
to the year 1967; (5) to the extent included, the amount of
any refunds of income taxes paid to the State of Maryland,
any other state, the District of Columbia, and any political
subdivision of the State of Maryland and of any other state;
(6) to the extent included, distributions to beneficiaries
of accumulated income on which income tax has been paid by a
fiduciary to this State; and (7) for all taxable years
ending after December 31, 1972, amounts received by an
individual who is totally disabled, as an annuity, pension
or endowment under a private, municipal, State or federal
retirement system, and included in such individual's federal
adjusted gross income, this subtraction shall not exceed an
amount equal to the average MAXIMUM annual benefit received
in Maryland by persons who retired at the age of 65 or older
under the Social Security and Railroad Retirement Acts ACT
for the prior calendar year. The Comptroller shall
determine the amount of the average MAXIMUM benefit annually
and for the purposes of this subparagraph may allow the
subtraction to the nearest $100. The allowed subtraction
shall be reduced by the amount of disability benefits
received under the Social Security Act, the Railroad
Retirement Act, or both, as the case may be.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978 and shall apply to all
taxable years beginning after December 31, 1977.

Approved April 11, 1978.

CHAPTER 46

(Senate Bill 14)

AN ACT concerning

Fee Charging Employment Agencies — Advertisements

FOR the purpose of repealing the present provisions of the
law requiring fee charging employment agencies to
publish their address in all advertisements.

BY repealing and reenacting, with amendments,