HARRY HUGHES, Governor

1663

the cost or market value, but the taxpayer fails to report
accurately the cost or other data required to establish
market value, and the taxpayer claims that the property is
assessed at a higher valuation than it would be if it had
been reported accurately, then a demand for a hearing shall
be granted if the answer or protest to the notice as to the
assessment on that property is made within three years from
the date of that notice.

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

Approved May 29, 1979.

CHAPTER 594

(House Bill 937)

AN ACT concerning

Income Tax Modification — Withdrawals
from Keough Plans

FOR the purpose of including as an amount to be subtracted
from federal adjusted gross income for State income tax
purposes withdrawals from certain retirement plans,
under certain conditions; and correcting an error.

BY repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes

Section 280 (c)

Annotated Code of Maryland

(1975 Replacement Volume and 1978 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 81 — Revenue and Taxes

280.

(c) There shall be subtracted from federal adjusted
gross income: (1) interest or dividends on obligations of
the United States and its territories and possessions or of
any authority, commission or instrumentality of the United
States and any other income to the extent includable in
gross income for federal income tax purposes, but exempt
from State income taxes under the laws of the United States;
(2) payments received by policemen and firemen from pension
systems for injuries or disabilities arising out of and in