HARRY HUGHES, Governor

943

used by the Authority as a nonlapsing, revolving fund for
carrying out the provisions of this subheading. [To this
fund shall be charged any and all expenses of the Authority,
and to the fund shall be credited all receipts of the
Authority.] ALL EXPENSES AND DISBURSEMENTS OF THE
AUTHORITY, INCLUDING DIRECT LOANS MADE AND GUARANTY PAYMENTS
REQUIRED BY LOAN DEFAULTS, SHALL BE CHARGED TO THE FUND.
ALL RECEIPTS OF THE AUTHORITY, INCLUDING REPAYMENTS OF
PRINCIPAL AND INTEREST ON DIRECT LOANS, PREMIUMS FOR
GUARANTIES OF LOANS, AND INCOME EARNED BY INVESTMENTS OF THE
AUTHORITY MADE ON ITS BEHALF BY THE STATE TREASURER UPON
INSTRUCTION OF THE AUTHORITY, SHALL BE CREDITED TO THE FUND.

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

Approved May 14, 1979.

CHAPTER 283

(Senate Bill 807)

AN ACT concerning

Gasoline Tax - Gasohol

FOR the purpose of exempting from the gasoline tax the
alcohol content of the gasoline and alcohol mixture
known as "gasohol"; specifying a certain rate of fuel
tax to be applied to certain mixtures of "gasohol"; and

redefining "motor vehicle fuel"; requiring the

Comptroller to promulgate certain rules and

regulations; and clarifying language to include

"gasohol".

BY repealing and reenacting, with amendments,

Article 56 - Licenses

Section 135(b)

Annotated Code of Maryland

(1972 Replacement Volume and 1978 Supplement)

BY adding to

Article 56 - Licenses

Section 136(i)

Annotated Code of Maryland

(1972 Replacement Volume and 1978 Supplement)

Preamble