HARRY HUGHES, Governor

2129

In order to pay the principal and interest on the
certificates of indebtedness issued pursuant to the "Outdoor
Recreation Land Loan of 1969," or "Program Open Space":

(a)(1) A tax is hereby imposed upon every written
instrument conveying title to real property, or a leasehold
interest therein, offered for record and recorded among the
land records in the State, and on the transfer of title to
real property or a leasehold interest therein on the filing
with the State Department of assessments and Taxation of
articles of sale, lease, exchange or other transfer of all

or substantially all the property and and assets of a

corporation unless specifically exempted by § 277(t) above,
but conveyances by or to the United States, the State, or
any political subdivision of the State, or any agency or
instrumentality thereof, shall not be subject to the tax
imposed by this section.

(2) The term "written instrument" includes

leases for a term of years above seven years, not

perpetually renewable but does not include any mortgage,
deed of trust, conditional sales contract, ANY MORTGAGE OR
DEED OF TRUST FOR REFINANCING, BY THE ORIGINAL MORTGAGOR, OF

PROPERTY USED AS THE ORIGINAL MORTGAGOR'S PRINCIPAL

RESIDENCE, or any other device the purpose of which is to
afford a security in real property rather than convey title
thereto.

SECTION 3 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 19, 1981.

CHAPTER 513

(Senate Bill 105)

AN ACT concerning

Alteration of a State Debt - Elderly Citizens
Activities Centers Improvements Loan

FOR the purpose of amending Chapter 910 of the Acts of the
General Assembly of 1978 to alter the amount of the
State debt therein authorized.

BY repealing and reenacting, with amendments,

Chapter 910 of the Acts of the General Assembly of
Maryland, as amended by Chapter 466 of the Acts
of the General Assembly of 1979 and Chapter 270
of the Acts of the General Assembly of 1980.