HARRY HUGHES, Governor

3223

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Natural Resources

5-902.

(D) THE GENERAL ASSEMBLY FINDS THAT PROGRAM OPEN SPACE HAS
LESS PRIORITY THAN OTHER URGENT STATE NEEDS, AND THEREFORE
SUSPENDS THE OPERATION OF THE PROGRAM FROM JULY 1, 1984 TO JUNE
30, 1985, BOTH INCLUSIVE.

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".

(f) The proceeds of the tax imposed by this section shall

be paid to the State Comptroller. The Comptroller shall place

all such moneys in a special fund and shall use the same for

payment of interest and principal on the certificates of

indebtedness issued under the "Outdoor Recreation Land Loan Act

of 1969." If at any time ON OR AFTER JULY 1, 1984, the

Comptroller has in this fund more money than needed to meet
payments of interest and principal, the excess amount shall be
[made available for the funding of projects for the acquisition
and development of recreation land and open space,, as provided
under "Program Open Space."] PAID INTO THE GENERAL FUND OF THE
STATE AND EARMARKED FOR EDUCATION.

Transfer Taxes - Program Open Space

FOR the purpose of providing that after the Program Open Space
debt service requirements are satisfied, certain transfer
tax revenues shall be utilized for Program Open Space;
providing that funds appropriated in the budget for Program
Open Space shall remain available until expended; providing
that any transfer tax fund revenues that exceed the level
utilized for Program Open Space under this Act shall be
credited to the General Fund of the State; providing that
this Act shall be effective beginning in a certain fiscal
year; providing for the termination of the provisions of
this Act and for the publishing of certain provisions as of
a certain date; providing for a certain study; and generally
relating to the allocation of the proceeds of the State
Property Transfer Tax.

BY repealing and reenacting, without amendments,

Article 81 - Revenue and Taxes

Section 278A(a)

Annotated Code of Maryland