HARRY HUGHES, Governor

3561

changed accordingly. Any additional "Maryland estate tax"
shall be payable at the same time or times at which the
additional "federal estate tax" is payable and shall bear
interest thereon at the rate [of nine percent per annum]
DETERMINED UNDER SECTION 204 OF ARTICLE 81 OF THE CODE from
15 months after the date of death of the "decedent" to the
date of payment of such additional "Maryland estate tax."
[The rate of interest shall be reduced to agree with a
reduced federal interest rate.] In the event that there
shall be a decrease in the "federal estate tax," the
"executor" shall file with the Comptroller of the State of
Maryland an affidavit in such form as is prescribed by the
Comptroller. The Comptroller shall thereupon cause to be
paid to the "executor" the amount of refund found to be due,
together with interest thereon at the rate [of nine percent
per annum] DETERMINED UNDER SECTION 204 OF ARTICLE 81 OF THE
CODE from the date of payment of the "Maryland estate tax."
Refund shall be paid by the Comptroller because of payment
of Maryland inheritance taxes subsequent to the payment or
payments of the "Maryland estate tax" or because of
demonstrable error in the "Maryland estate tax return" but
such refunds shall not be subject to the payment of interest
by the Comptroller. A claim for refund of Maryland estate
tax shall be filed within three years after the event which
causes the refund to become due, provided that no interest
will be due on any such claim which has not been filed
within one year after such event.

SECTION 2. AND BE IT FURTHER ENACTED, That the
subtitle "Forfeiture of Corporate Charters for Nonpayment of
Taxes" of Article 81 - Revenue and Taxes, of the Annotated
Code of Maryland be repealed.

SECTION 3. AND BE IT FURTHER ENACTED, That the
Comptroller shall evaluate the effects of this Act and shall
report his findings to the Senate Budget and Taxation
Committee and to the House Committee on Ways and Means prior
to the commencement of the 1983 Legislative Session.

SECTION 3 4. AND BE IT FURTHER ENACTED, That this
Act shall take effect July 1, 1982.

Approved June 1, 1982.

CHAPTER 616
(House Bill 431)
AN ACT concerning