Ch. 688                                    LAWS OF MARYLAND

Republic of South Africa and that does not qualify for exemption
under paragraph (ii) of this subsection.

Chapter 775 of the Acts of 1985

SECTION 3. AND BE IT FURTHER ENACTED, That during the
period from July 1, 1985 until June 30, [1987] 1988, the Board of
Trustees for Maryland State Retirement and Pension Systems shall
establish a data base system and shall collect information
pertinent to the evaluation of the effect of the investment
prohibition, implemented in Section 1 of this Act, on the overall
investment performance of the State's pension portfolio.

By July 1, 1987, the Governor shall appoint a task force for
the purpose of: (i) receiving and reviewing the data and
information accumulated by the Board of Trustees regarding the
effect of the investment prohibition, implemented in Section 1 of
this Act, on the overall investment performance of the State's
pension portfolio; and (ii) conducting an assessment of the
effect of the investment prohibition.

The Governor, in consultation with the President of the
Senate and the Speaker of the House of Delegates, shall designate
the chairman of the task force and shall appoint the membership
of the task force.

The task force shall report its findings and recommendations
to the Governor and the Legislative Policy Committee of the
General Assembly by December 31, 1987 and shall automatically
terminate as of [the same date] JUNE 30, 1988.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July June 1, 1987.

Approved June 2, 1987.

CHAPTER 688

(House Bill 956)

AN ACT concerning

Franchise Tax - Associations

FOR the purpose of altering clarifying and confirming the
definition of association for purposes of application of the
annual franchise tax.

BY repealing and reenacting, with amendments,

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