HARRY HUGHES, Governor

3509

(III) CONVEYANCES TO THIS STATE, ANY

AGENCY OF THIS STATE, OR ANY POLITICAL SUBDIVISION OF THIS
STATE.

SECTION 2. AND BE IT FURTHER ENACTED, That sections(s)
of the Annotated Code of Maryland be repealed, amended, or
enacted to read as follows:

Article 81 - Revenue and Taxes

278A.

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 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.

May 19, 1981
The Honorable Benjamin L. Cardin
Speaker of the House of Delegates
State House
Annapolis, Maryland 21404

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the
Maryland Constitution, I have today vetoed House Bill 228.