WILLIAM DONALD SCHAEFER, Governor

certified nondepreciable historic structure based on a period of
60 months. This amortization deduction shall be an amount, with
respect to each month of the period within the taxable year,
equal to the amortizable basis at the end of such month divided
by the number of months (including the month for which the
deduction is completed) remaining in the period. The amortizable
basis at the end of the month shall be computed without regard to
the amortization deduction for the month. The 60-month period
shall begin, as to any historic structure, at the election of the
taxpayer, with the month following the month in which the basis
is acquired, or with the succeeding taxable year.

[(f)] (G) The election of the taxpayer to take the
amortization deduction and to begin the 60-month period with the
month following the month in which the basis is acquired, or with
the taxable year succeeding the taxable year in which the basis
is acquired, shall be made by filing a statement of the election
with the State Comptroller or his delegate, in a manner and
within a time period as the State Comptroller or his delegate may
prescribe by regulation.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1987 and shall be applicable to all taxable
years beginning after December 31, 1986.

June 2, 1987
The Honorable R. Clayton Mitchell, Jr.
Speaker of the House of Delegates
State House
Annapolis, Maryland 21404

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed House Bill 665.

This bill authorizes the creation of a State debt in the
amount of $150,000, the proceeds to be used as a grant to the
Mayor and City Council of the City of Havre de Grace for the
purpose of rehabilitation, renovation, reconstruction,
restoration, site improvement, furnishing and equipping of the
Havre de Grace Decoy Museum.

Senate Bill 473, which was passed by the General Assembly
and signed by me on May 14, 1987, accomplishes the same purpose.
Therefore, it is not necessary for me to sign House Bill 665.

- 3711 -