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H.B. 1513
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VETOES
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investment companies, executors, administrators, trustees, and other fiduciaries may
properly and legally invest funds including capital in their control or belonging to
them; and
2. Which may be properly and legally deposited with and
received by any State or county officer, any State agency, or political subdivision of
the State for any purpose for which the deposit of bonds or obligations of the State
may be authorized by law.
(iii) The issuance and sale of new school capacity construction bonds
under this subsection is exempt from the provisions of Article 31, §§ 9 through 11 of
the Code.
(iv) The transfer of, interest on, and any income derived from new
school capacity construction bonds shall be exempt from State and local taxation.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2005.
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May 26, 2005
The Honorable Michael E. Busch
Speaker of the House
State House
Annapolis, MD 21401
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland Constitution, today I have
vetoed House Bill 1513 - Baltimore City - Property Tax Credit for Newly Constructed
Dwellings.
This bill extends to June 30, 2007, the termination date applicable to provisions of
law that authorizes the Mayor and City Council of Baltimore City to grant, by law, a
property tax credit against the local property tax imposed on specified newly
constructed dwellings under specified circumstances.
Senate Bill 314, which was passed by the General Assembly and signed by me,
accomplishes the same purpose. Therefore, it is not necessary for me to sign House
Bill 1513.
Very truly yours,
Robert L. Ehrlich, Jr.
Governor
House Bill No. 1513
AN ACT concerning
Baltimore City - Property Tax Credit for Newly Constructed Dwellings
FOR the purpose of altering the termination date applicable to certain provisions
- 4490 -
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