Ch. 291                                        LAWS OF MARYLAND

State under the provisions of § 316 hereof, except as herein

specifically provided otherwise, the tax imposed by this

subsection shall in all respects be imposed and collected and
subject to the same laws, regulations and provisions as those

imposed elsewhere in this article upon the net income of such

corporations. The tax imposed and collected pursuant to the

provisions of this subsection shall be remitted by the
Comptroller to the State Treasurer. The State Treasurer shall

first set aside in the Annuity Bond Fund so much, if any, as

shall be required to make payments of principal and interest due
in the year of receipt and in the next following year, to the
extent that such amounts have not previously been so set aside on
the bonds or certificates of indebtedness issued under provisions
of § 8 of former Article 62B of the Annotated Code of Maryland
(1957 Edition, as amended). Thereafter, the State Treasurer shall
set aside in the Annuity Bond Fund so much, if any, as shall be
required to make payments of principal and interest due in the

year of receipt and in the next following year, to the extent

that such amounts have not previously been so set aside on the
bonds or certificates of indebtedness issued under provisions of
§§ 8A and 8B of former Article 62B of the Annotated Code of

Maryland (1957 Edition, as amended). Such additional amounts, if

any, as are received, shall be held in the Transportation Trust
Fund and thereafter held and distributed in accordance with the
provisions of Title [3] 8 of the Transportation Article. Except
as provided in § 323G of this article, the proceeds of the tax
imposed and collected by this subsection shall not be paid into
of credited to the general funds of the State.

288A.

Of the net receipts (including estimated payments, interest,
and penalties) collected from the taxes imposed under § 288 of
this article on the net income of corporations (domestic or
foreign), the Comptroller, after first deducting the amounts
distributed to the Transportation Trust Fund under § 288(c) of
this article and the amounts for which current distribution is
deferred under § 323C of this article, and after deducting the
sum of $30,928,000 to be allocated to the General Fund of the
State, shall distribute monthly from the remaining funds:

(1) 16 percent to the Gasoline and Motor Vehicle
Revenue Account in the Transportation Trust Fund;

(2) 16 percent to the Transportation Revenue Sharing
Account in the Transportation Trust Fund;

(3) Beginning in January, 1987, and continuing
thereafter on a cumulative monthly basis through June, 1988,
$2,500,000 to the Transportation Trust Fund and beginning in
July, 1988 and continuing thereafter on a cumulative monthly
basis through October, 1990, $3,000,000 to the Transportation
Trust Fund, with the distributions continuing until the total of

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