3954

VETOES

(C) THE LEGAL RATE OF INTEREST ON A MONEY JUDGMENT FOR
DELINQUENT REAL OR PERSONAL PROPERTY TAXES. SHALL BE THE GREATER
OF (1) THE SUM OF THE RATES OF INTEREST AND PENALTIES, IF ANY,
FIXED PURSUANT TO ARTICLE 81, SECTION 48 OF THE CODE, OR (2) AT
THE RATE OF 10 PERCENT PER ANNUM.

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows:

Article - Courts and Judicial Proceedings

11-107.

(a)  Except as provided in § 11-106 of this article, the
legal rate of interest on a judgment shall be at the rate of 10
percent per annum on the amount of judgment.

(b)  The legal rate of interest on a money judgment for rent
of residential premises shall be at the rate of 6 percent per
annum on the amount of the judgment.

(C) THE LEGAL RATE OF INTEREST ON A MONEY JUDGMENT FOR
DELINQUENT TAXES THAT ARE CONTROLLED BY § 14-603 OF THE TAX
PROPERTY ARTICLE SHALL BE AT THE RATE FIXED UNDER § 14-603 OF THE
TAX - PROPERTY ARTICLE FOR INTEREST AND PENALTIES.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1985.

(C) THE LEGAL RATE OF INTEREST IMPOSED ON A MONEY JUDGMENT
FOR DELINQUENT REAL OR PERSONAL PROPERTY TAXES SHALL BE THE
GREATER OF (1) THE SUM OF THE RATES FIXED PURSUANT TO SECTIONS
14-603 AND 14-702 OF THE TAX - PROPERTY ARTICLE FOR INTEREST AND
PENALTIES, OR (2) AT THE RATE OF 10 PERCENT PER ANNUM.

SECTION 3. AND BE IT FURTHER ENACTED, That Section 1 of
this Act shall take effect July 1, 1985, and shall remain
effective until February 1, 1986. On February 1, 1986, and with
no further action required by the General Assembly, Section 1 of
this Act shall be abrogated and of no further force and effect.
Section 2 of this Act shall take effect February 1, 1986.

May 28, 1985
The Honorable Melvin A. Steinberg
President of the Senate
State House