HARRY HUGHES, Governor                                  1231

an annual tax sufficient to provide an amount of revenue for
elementary and secondary public education purposes equal to
the product of the wealth of the county and a uniform
percentage determined for each fiscal year. This uniform
percentage -shall be determined as follows: The sum of the
basic current expenses to be shared for all of the counties
shall be multiplied, for the first $624, by 0.45, for the
additional [$66] $158 $160, by 0.50 and this product shall
then be divided by the sum of the wealth of all of the
counties; the resulting quotient, expressed as a percentage
rounded to the third decimal place, is the uniform
percentage.

23-401.

(b)(1) "Adjusted assessed valuation of real property"
means the most recent estimate by the Department of
Assessments and Taxation before the State budget is
submitted to the General Assembly, of the assessed value of
real property for State purposes as of July 1 of the first
completed fiscal year before the fiscal year for which the
calculation of State library aid is made under this
subtitle.

(2) If the Department of Assessments and
Taxation estimates that real property in any county is
assessed at other than f551 50 percent of market value, the
assessed valuation of those categories of real property that
are estimated to be assessed at other than f551 50 percent
of market value, on the basis of surveys made under Article
81, 5 232(14) of the Code that are reported on or before
November 1 of the first calendar year before the fiscal year
for which the calculation is made, shall be adjusted to f551
50 percent. This adjustment does not apply to public
utility operating property.

SECTION 2. AND BE IT FURTHER ENACTED, That the

provisions of Section 1 of this Act shall be utilized in
calculating the amount of basic current expense for each
county and Baltimore City for fiscal year 1979—1980.

SECTION 2 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1979, contingent upon an

appropriation contained in the—Budget Bill for fiscal year

1980 adequate to fund the increase in the State's share of

the basic current expenses for public education as set forth

in Section 1 of this Act, and if said appropriation is not
made in the Budget Bill, this Act shall bo null and void
without the necessity of further action by the General

Assembly the passage of HB 1695 of 1979. Should that

measure fail of enactment, the provisions of this Act are
null and void without the need of further action by the
General Assembly.

Approved May 29, 1979.