HARRY HUGHES, Governor                                       4059

HOLDING COMPANY AND ITS SUBSIDIARY SAVINGS BANK, SHARES OF WHICH
ARE OWNED BY THE SAME MUTUAL HOLDING COMPANY.

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

May 27, 1986
The Honorable Benjamin L. Cardin
Speaker of the House of Delegates
State House
Annapolis, Maryland 21404

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed House Bill 1589.

This bill provides a mandatory credit against the State,
county, municipal corporation, and special district property tax
for conservation property on which a conservation easement has
been donated to the Maryland Environmental Trust.

Senate Bill 285, which was passed by the General Assembly
and signed by me on May 13, 1986, accomplishes the same purpose.
Therefore, it is not necessary for me to sign House Bill 1589.

Sincerely,
Harry Hughes
Governor

House Bill No. 1589

AN ACT concerning

Property Tax - Credit - Conservation Easements

FOR the purpose of providing for a mandatory credit against the
State, county, municipal corporation, and special district
property tax for certain land on which a certain
conservation easement has been donated to a certain entity;
requiring a qualified landowner to apply to the Department
of Assessments and Taxation for the tax credit by a certain
date; providing for the amount and duration of the tax
credit; requiring certain valuation and assessment
procedures to be used; defining a certain term; requiring
certain acceptance and approval of the easement before the
credit is available; providing for the effective date of
this Act; and generally relating to a mandatory property tax