2174

LAWS OF MARYLAND

Ch. 620

WRITING THAT TRANSFER TITLE TO PARCELS OF LAND THAT ARE ENTIRELY
WOODLAND; AND

(II) ONE-THIRD OF THE BALANCE OF REVENUE FROM
THE AGRICULTURAL TRANSFER TAX THAT REMAINS AFTER THE REMITTANCE
UNDER ITEM (I) OF THIS PARAGRAPH.

[(2)] (3) The Comptroller shall deposit:

(I)  UP TO $200,000 ANNUALLY OF THE REVENUE
REMITTED UNDER PARAGRAPHS (1)(I) AND (2)(I) OF THIS SUBSECTION
INTO THE WOODLAND INCENTIVES FUND ESTABLISHED IN § 5-307 OF THE
NATURAL RESOURCES ARTICLE; AND

(II)   [the] THE revenue IN EXCESS OF $200,000
ANNUALLY REMITTED UNDER PARAGRAPHS (1)(I) AND (2)(I) OF THIS
SUBSECTION AND THE REVENUE remitted UNDER PARAGRAPHS (1)(II) AND
(2)(II) into the Maryland Agricultural Land Preservation Fund to
be used for the purposes stated in § 2-505 of the Agriculture
Article.

(b)  Each county collector shall hold the remainder of the
revenue in a special county account to be used for an approved
agricultural land preservation program, including use for bond
annuity funds or matching funds.

(c)  (1) Except as provided for Montgomery County in
subsection (e) of this section, if any revenue in the special
county account has not been expended or committed on or before 3
years from the date of deposit into the county account, the
county collector shall remit that revenue to the Comptroller for
deposit in the Maryland Agricultural Land Preservation Fund.

(2) If on or before 2 years from the date of deposit
of revenue into the Maryland Agricultural Land Preservation Fund
under paragraph (1) of this subsection the county is able to use
the revenue as provided by subsection (c) of this section, the
Comptroller shall return the revenue to the county.

(d)  In Montgomery County, 50% of the revenue retained shall
be held in a special account and shall be deemed and used as the
State matching fund share for agricultural land preservation in
Montgomery County.

(e)  From the agricultural land transfer tax collected by
it, the Department shall remit the county part of the revenue to
the collector for the county in which the land is located for
distribution under this section.

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

Approved May 13, 1986.