HARRY HUGHES, Governor

565

Article 17 - Prince George's County

10-187.

(a) Except as provided in Subsection (b), the Council is
authorized and empowered to impose a tax, at a rate not to exceed
one AND ONE-HALF percent [(1%)] (1 1/2%) of the actual
consideration paid or to be paid under every instrument of
writing conveying title to real property, or any interest
therein, in the County, offered for record and recorded in the
County, provided that conveyances to the State or any agency
thereof or any political Subdivision of the State, shall not be
subject to the tax imposed by this Section. The term "instrument
of writing" shall include deeds, mortgages, deeds of trust,
leases, contracts and agreements, but shall not include purchase
money mortgages, purchase money deeds of trust, assignments of
mortgages or releases, provided, however, upon any refinancing of
property, by the original mortgagor or mortgagors the tax shall
apply only to the consideration over and above the amount of the
original mortgage or deed of trust. The County Council may, by
ordinance, provide that any instrument of writing for the
refinancing of property by the original mortgagor or mortgagors
shall not be subject to the tax imposed by this Section.

SECTION 2. AND BE IT FURTHER ENACTED, That the provisions
of this Act shall have no force and effect on or after July 1,
1987.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1984.

Approved May 8, 1984.

CHAPTER 152

(Senate Bill 1073)

AN ACT concerning

Maryland Property Insurance Availability Act

FOR the purpose of altering the termination provisions of the
Maryland Property Insurance Availability Act to provide that
it shall expire either after the expiration of the Federal
Urban Property Protection and Reinsurance Act of 1968 or
June 30, 1988, whichever occurs last; and making this Act an
emergency measure.

BY repealing and reenacting, with amendments,