WILLIAM DONALD SCHAEFER, Governor Ch. 303
(1983 Replacement Volume and 1986 Supplement)

BY repealing and reenacting, with amendments,

Chapter 403 of the Acts of the General Assembly of 1969, as
amended by Chapter 433 of the Acts of the General
Assembly of 1977

Section 5(2)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Tax - Property

13-209.

(a) The revenue from transfer tax is payable to the
Comptroller for deposit in a special fund.

(b) (1) The special fund under subsection (a) of this
section:

(i) is used to pay principal and interest on
the bonds issued under the Outdoor Recreation Land Loan of 1969;
and

(ii) subject to paragraph (2) of this

subsection, the balance of the revenue, not required under
paragraph (1)(i) of this subsection, shall be allocated:

1. [$24,000,000] $29,000,000 FOR THE

FISCAL YEAR COMMENCING JULY 1, 1987, AND $5,000,000 FOR THE
FISCAL YEAR COMMENCING JULY 1, 1988 AND FOR SUBSEQUENT FISCAL
YEARS, as provided in the State budget for the purposes
specified in Title 5, Subtitle 9 (Program Open Space) of the
Natural Resources Article; and

2. the balance in excess of [$24,000,000]
THE AMOUNTS ALLOCATED IN ITEM 1. OF THIS SUBPARAGRAPH to the
General Fund of the State.

(2) The [sum} SUMS allocated under paragraph

(1)(ii)1. of this subsection may not revert to the General Fund
of the State.

(B) (1) THE SPECIAL FUND UNDER SUBSECTION (A) OF THIS
SECTION IS USED TO PAY PRINCIPAL AND INTEREST ON THE BONDS ISSUED
UNDER THE OUTDOOR RECREATION LAND LOAN OF 1969.

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