Ch. 755                                    LAWS OF MARYLAND

Approved June 2, 1987.

CHAPTER 7 55

(House Bill 555)

AN ACT concerning

Racing - Harness Tracks - Tax Exemption

FOR the purpose of altering the termination date of a certain
exemption from the tax on racing revenues for a certain
harness track licensee; altering the total daily average
wager for qualifying for the exemption; requiring a harness

track licensee to spend a certain amount on certain

improvements and promotional activities; requiring that a
certain report written reports be submitted to the Racing
Commission and the fiscal committees of the General Assembly
by certain dates; requiring maintenance of effort in the
expenditure of certain funds by the licensee; clarifying
that a harness track licensee may not include in the
calculation of the minimum required expenditure any
allowance for income tax consequences resulting from a
certain tax exemption; providing for criminal penalties for

violation of certain provisions of this Act; making this Act

contingent on the taking effect of a certain other Act; and

generally relating to an exemption from the State     tax on
racing revenues for harness tracks.

BY repealing and reenacting, with amendments,

Article 78B - Racing Commission

Section 17(b-2)

Annotated Code of Maryland

(1980 Replacement Volume and 1986 Supplement)

BY adding to

Article 78B - Racing Commission

Section 17(b-4) and (b-5)

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 78B - Racing Commission

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