2874                                   LAWS OF MARYLAND                                 Ch. 773

Approved May 19, 1981.

CHAPTER 774

(House Bill 1298)

AN ACT concerning

State Funding for Education

Abandoned Property

Supplementary Appropriation - State Funding for Education

FOR the purpose of altering the current expense aid program
level—and the additions to State shares for current
expense aid, the county contributions for
vocational-technical programs, and the amount of
vocational-technical set-asides for counties, and the

special education aid formula; repealing special

provisions as to Prince George's County; redefining
certain terms; making technical changes; relating

generally to State funding for education; making

provisions of this Act severable; and making this Act
contingent on a certain appropriation providing for
definition of a term; altering the time periods that
create a presumption that certain property may be
considered abandoned by its owner; providing a time
period before there is a presumption of abandonment of
certain property; imposing certain restrictions on
certain charges or withholding of certain benefits;
requiring certain persons to make a report; requiring
the Comptroller to invest and pay interest on certain
property; requiring the sale of abandoned property;
altering certain penalties; providing for the
disposition of funds; providing a valuation method for
the sale of abandoned property; clarifying language;
generally relating to the disposition of abandoned
property in this State; providing for the legislative
appropriation of the revenues derived through the sale
of abandoned property for State aid to education; and
making this bill a supplementary appropriation bill.

BY repealing and reenacting, with amendments,

Article - Education

Section 5-202, 8-417, 8-417.1, and 8-417.6

Annotated Code of Maryland

(1978 Volume and 1980 Supplement)

BY adding to

Article - Education

Section 8-417.7
Annotated Code of Maryland