1232

LAWS OF MARYLAND

Ch. 294

(E)  ON GRANTING AN ALTERNATIVE PAYMENT SCHEDULE UNDER
SUBSECTION (B) OF THIS SECTION, THE COMPTROLLER SHALL NOTIFY THE
APPROPRIATE REGISTER OF WILLS OF THE:

(1)  GRANTING OF THE ALTERNATIVE PAYMENT SCHEDULE;

(2)  SPECIFIC PROCEDURES AND GUIDELINES FOR THE
PAYMENT SCHEDULE; AND

(3)  RESPONSIBILITIES OF THE REGISTER OF WILLS
REGARDING RECEIPT OF PAYMENTS UNDER THE PAYMENT SCHEDULE.

(F)  ON A DENIAL BY THE COMPTROLLER OF A REQUESTED
ALTERNATIVE PAYMENT SCHEDULE FOR THE INHERITANCE TAX IMPOSED BY
THIS SUBTITLE, THE APPLICANT MAY APPEAL THE DECISION OF THE
COMPTROLLER TO THE MARYLAND TAX COURT WITHIN 30 DAYS FROM THE
DATE OF MAILING OF THE DENIAL NOTICE.

(G)  A LIEN SHALL ATTACH TO THE ASSETS OF THE SMALL BUSINESS
FOR WHICH THE ALTERNATIVE PAYMENT SCHEDULE WAS GRANTED IN THE
AMOUNT OF ANY UNPAID INHERITANCE TAX DEFERRED UNDER THE PAYMENT
SCHEDULE AND ANY INTEREST ON THE TAX. THE LIEN SHALL REMAIN
ATTACHED UNTIL THE FULL AMOUNT OF THE INHERITANCE TAX IMPOSED
UNDER THIS SUBTITLE IS PAID.

(H) NOTWITHSTANDING THE GRANTING OF AN ALTERNATIVE PAYMENT
SCHEDULE UNDER SUBSECTION (B) OF THIS SECTION, BEGINNING 30 DAYS
FROM THE NORMAL DUE DATE OF THE INHERITANCE TAX, ANY UNPAID
PORTION OF THE INHERITANCE TAX SHALL BEAR INTEREST AT THE RATE
SPECIFIED IN ARTICLE 81, § 152 OF THE CODE, UNTIL THE DATE OF
PAYMENT.

(I) THE COMPTROLLER SHALL ADOPT:

(1)  REGULATIONS NECESSARY TO IMPLEMENT THIS SECTION;

(2)  PROCEDURES FOR PROVIDING NOTIFICATION OF THE
POSSIBLE AVAILABILITY OF AN ALTERNATIVE PAYMENT SCHEDULE UNDER
THIS SECTION; AND

(3)  APPLICATION PROCEDURES FOR AN ALTERNATIVE PAYMENT
SCHEDULE UNDER THIS SECTION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1986.

Approved May 13, 1986.