2136

LAWS OF MARYLAND

Ch. 515

BY adding to

Article 81 - Revenue and Taxes
Section 280(e) and 304(g) 281(d)
Annotated Code of Maryland

(1975 Replacement Volume and 1980 Supplement)
(1980 Replacement Volume)

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be repealed, amended, or enacted to read as follows: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

280 281.

(E) (D) IF CHANGES IN FEDERAL INCOME TAX LAWS ARE
ENACTED WHICH ELIMINATE OR REDUCE A DEDUCTION, OR SUBSTITUTE
A CREDIT FOR A DEDUCTION, AND TAKE EFFECT DURING THE TAXABLE
YEAR IN WHICH THEY ARE ENACTED, THE DEDUCTION FOR STATE
INCOME TAX PURPOSES SHALL CONTINUE ONLY FOR THE TAXABLE YEAR
IN WHICH THE DEDUCTION IS ELIMINATED, REDUCED, OR
SUBSTITUTED WITH A CREDIT.

304.

(C) THE COMPTROLLER SHALL SUBMIT A REPORT TO THE
GENERAL ASSEMBLY BY JANUARY 31 OF EACH YEAR, FOR
CONSIDERATION DURING THAT YEAR'S LEGISLATIVE SESSION,
OUTLINING ANY CHANGES IN FEDERAL INCOME TAX LAW OCCURRING IN
THE LAST YEAR, AND THE IMPACT OF THOSE CHANGES ON STATE
REVENUES.

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

Approved May 19, 1981.

CHAPTER 516

(Senate Bill 152)

AN ACT concerning

Program Open Space - Local Master Plans

FOR the purpose of increasing the total sum available to
local subdivisions for Program Open Space planning
purposes; providing that local matching funds currently
provided from subdivisions or for the development or
updating of local master plans is not required;
providing for the retroactive effect of the change in