Ch. 555

LAWS OF MARYLAND

CHAPTER 555

(House Bill 1276)

AN ACT concerning

Franchise Taxes - Financial institutions Tax Enforcement

FOR the purpose of conferring certain powers on the Department of
Assessments and Taxation for the enforcement of the
financial institutions tax and the savings banks and
building, savings and loan associations tax.

BY repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes

Section 128(h) and 128A(f)

Annotated Code of Maryland

(1980 Replacement Volume and 1986 Supplement)

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

Article 81 - Revenue and Taxes

128.

(h) (1) The failure of a savings bank or association to
file a return, report, or pay a tax or any portion of a tax, as
required or due under this section, shall have the effect and be
subject to the procedures and penalties provided in §§ 320 and
322 and elsewhere in the subtitle "Income Tax" of this article,
as well as civil procedures authorized for the collection of
ordinary taxes.

(2) TO DETERMINE IF A TAX RETURN IS CORRECT OR TO
OTHERWISE ENFORCE THE PROVISIONS OF THIS SECTION, THE DEPARTMENT
MAY:

(I)  EXAMINE ANY BOOKS, PAPERS, RECORDS OR OTHER
DATA THAT MAY BE RELEVANT OR MATERIAL TO THE MATTERS REQUIRED TO
BE INCLUDED IN A TAX RETURN;

(II)  SUBPOENA:

1. ANY PERSON; OR

2. ANY RELEVANT DOCUMENT;

(III) ADMINISTER OATHS;

(IV) TAKE TESTIMONY;

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