976

LAWS OF MARYLAND

Ch. 282

any SAVINGS bank or association shall be apportioned among the
counties and Baltimore City according to the relative amount of
deposits and/or share accounts applicable to each county and
Baltimore City, in accordance with regulations adopted pursuant
to subsection (g) and the county or Baltimore City in which the
branch office is located shall be paid that share of the total.
If the SAVINGS bank or association has no branch offices, the
total payment shall be made to the county or Baltimore City in
which the one office of the SAVINGS bank or association is
located. All such payments shall be made to the board of county
commissioners or county council of the county or to the mayor and
city council of Baltimore, to be credited in each instance to the
general funds of the county or city.

[(f) The failure or wilful failure of a bank or association
to file a return or report or to pay a tax or any portion of a
tax, as required or due under this section, shall have the effect
and be subject to the procedures and penalties provided in §§ 320
and 322 and elsewhere in the subtitle "income Tax" in this
article.]

[(g) The Comptroller from time to time may adopt and
promulgate rules and regulations for the reporting and collection
of the franchise taxes imposed in this section and not
inconsistent with the provisions of this section.]

(F)  THE TAX IMPOSED BY THIS SECTION SHALL BE COLLECTED AND
ADMINISTERED BY THE DIRECTOR IN ACCORDANCE WITH THE PROVISIONS OF
THIS SUBTITLE "INCOME TAX" OF THIS ARTICLE NOT INCONSISTENT WITH
THIS SECTION.

(G)  REFERENCE IN THE SUBTITLE "INCOME TAX" TO THE
COMPTROLLER OF THE TREASURY SHALL BE TAKEN TO MEAN THE DIRECTOR
FOR PURPOSES OF THIS SECTION, AND THE DIRECTOR SHALL HAVE THE
SAME ADMINISTRATIVE AND RULEMAKING POWERS AND DUTIES WITH RESPECT
TO THE FRANCHISE TAX IMPOSED HEREBY AS THE COMPTROLLER HAS WITH
RESPECT TO INCOME TAX.

(H) THE FAILURE OF A SAVINGS BANK OR ASSOCIATION TO FILE A
RETURN, REPORT, OR PAY A TAX OR ANY PORTION OF A TAX, AS REQUIRED
OR DUE UNDER THIS SECTION, SHALL HAVE THE EFFECT AND BE SUBJECT
TO THE PROCEDURES AND PENALTIES PROVIDED IN §§ 320 AND 322 AND
ELSEWHERE IN THE SUBTITLE "INCOME TAX" OF THIS ARTICLE, AS WELL
AS CIVIL PROCEDURES AUTHORIZED FOR THE COLLECTION OF ORDINARY
TAXES.

[(h)] (I) If any law is interpreted as having granted a
county, municipality or other political subdivision the authority
to impose any tax upon building, savings and loan associations
other than the regular tax upon real property, said law is hereby
repealed to the extent of such grant of authority from and after
January 1, 1966, and from and after said date no county,
municipality or other political subdivision in this State shall
have the power to impose any tax upon savings banks or upon
building, savings and loan associations other than the political
subdivision's regular tax upon real property.