3334

LAWS OF MARYLAND

Ch. 543

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1982.

Approved June 1, 1982.

CHAPTER 544

(Senate Bill 730)

AN ACT concerning

Tax Increment Financing

FOR the purpose of allowing the expenditure of revenues, of
a certain fund relating to development districts
designated under the Tax Increment Financing Act, for
certain projects within those districts under certain
circumstances; allowing the use of those revenues for a
county's payment of transportation bond obligations to
the Department of Transportation; providing for the use
of tax revenues in the fund; and clarifying language
allowing the establishment of certain special funds
before any bonds are issued; allowing the use of moneys
in such special funds for certain enumerated purposes
under specific conditions; and clarifying language.

BY renumbering

Article 41 - Governor - Executive and Administrative

Departments
Section 266JJ-7 through 266JJ-12
to be Section 266JJ-9 through 266JJ-14
Annotated Code of Maryland
(1978 Replacement Volume and 1981 Supplement)

BY repealing and reenacting, with amendments,

Article 41 - Governor - Executive and Administrative

Departments
Section 266JJ-4, 266JJ-5, and 266JJ-6
Annotated Code of Maryland
(1978 Replacement Volume and 1981 Supplement)

BY adding to

Article 41 - Governor - Executive and Administrative

Departments
Section 266JJ-7 and 266JJ-8
Annotated Code of Maryland
(1978 Replacement Volume and 1981 Supplement)