HARRY HUGHES, Governor

63

REVISOR'S NOTE: This section is new language that repeats
the provisions of present Art. 81, § 4(f), as that
subsection relates to taxation of a "common trust
fund".

As to the balance of present Art. 81, § 4(f), see §
l-101(f)(2) of this title.

SUBTITLE 3. GENERAL PROVISIONS.

1-301. SECRECY OF RETURNS.

(A) "TAX INFORMATION" DEFINED.

IN THIS SECTION, "TAX INFORMATION" MEANS:

(1)  THE AMOUNT OF INCOME OR ANY PARTICULARS DISCLOSED
IN ANY RETURN REQUIRED UNDER ANY PROVISION OF LAW OF THIS STATE
IF THE RETURN CONTAINS FEDERAL RETURN INFORMATION;

(2)  THE AMOUNT OF INCOME OR ANY PARTICULARS DISCLOSED
IN ANY APPLICATION REQUIRED UNDER § 9-104 OF THIS ARTICLE; OR

(3)  ANY FEDERAL RETURN INFORMATION REQUIRED TO BE
ATTACHED TO OR INCLUDED IN A RETURN OF THIS STATE OR TO ANY
APPLICATION REQUIRED UNDER § 9-104 OF THIS ARTICLE.

(B) IN GENERAL.

AN OFFICER, EMPLOYEE, FORMER OFFICER, OR FORMER EMPLOYEE OF
THE STATE OR ANY POLITICAL SUBDIVISION OF THE STATE MAY NOT MAKE
KNOWN, IN ANY MANNER, ANY FEDERAL TAX INFORMATION, EXCEPT:

(1)  IN ACCORDANCE WITH PROPER JUDICIAL OR LEGISLATIVE
ORDER; AND

(2)  TO AN OFFICER OF THE STATE OR OF ANY POLITICAL
SUBDIVISION OF THE STATE WHO BY REASON OF THE OFFICE HAS A RIGHT
TO FEDERAL TAX INFORMATION.

REVISOR'S NOTE: This section is new language that repeats
the provisions of present Art. 81, § 5A(a), and is new
language derived without substantive change from
former Art. 81, § 12F-1(1)(2).

Subsection (a) of this section is revised as a
definition of "tax information", for clarity.

In subsection (a)(3) of this section, the references
to a "federal return" and "copies of a federal return"
are omitted as included in the phrase "federal return
information".

As to the revision of former Art. 81, § 12F-1(1)(3),
and present Art. 81, § 5A(b) in this article, see §
14-1019 of this article.