5046                                              VETOES

purposes, as set forth in its original charter, and that no

part of the funds paid to the corporation by the Commission

or any net earnings of the corporation inure to the benefit

of any private individual, director, officer or member of
the corporation.

SECTION 2. AND BE IT FURTHER ENACTED, That Section(s)

17(b)(7) and (8) of Article 78B - Racing Commission, of the

Annotated Code of Maryland be renumbered to be Section(s)
17(b)(6) and (7).

SECTION 3. 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect January 1, 1983

June 1, 1982
The Honorable James Clark, Jr.
President of the Senate
State House
Annapolis, Maryland 21404

Dear Mr. President:

In accordance with Article II, Section 17 of the
Maryland Constitution, I have today vetoed Senate Bill 282.

This bill as enacted alters the time and manner of
depositing certain racing tax revenues by extending the time
of payment from that required under existing law. This
result is contrary to the objective of the Joint Committee
on Management of Public Funds which introduced the bill to
accelerate deposits of tax revenues so that the State would
benefit from increased investment income.

For this reason, and with the concurrence of the
Chairman of the Joint Committee on Management of Public
Funds, I have decided to veto Senate Bill 282.

Sincerely,
Harry Hughes
Governor

Senate Bill No. 285
AN ACT concerning

State Employees Deferred Compensation Plan