WILLIAM DONALD SCHAEFER, Governor

Ch. 2

phrase "before April 15", to conform to the
administration construction of the former phrase since
its enactment by Ch. 205, Acts of 1961. This
construction is supported by enactment of Chs. 688 and
712, Acts of 1987, which required the returns to be
filed "[o]n or before April 15".

The former phrase "without interest" is deleted as
unnecessary in light of § 13-601(a) of this article.

Defined terms: "Savings and loan

association" § 8-101
"Savings and loan association franchise

tax" § 1-101

SUBTITLE 4. PUBLIC SERVICE COMPANY FRANCHISE TAX.
8-401. DEFINITIONS.

(A)  IN GENERAL.

IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

REVISOR'S NOTE: This subsection is new language used as the
standard introductory language to a definition
section.

(B)  GROSS RECEIPTS.

(1)  "GROSS RECEIPTS" MEANS TOTAL OPERATING REVENUE.

(2)  "GROSS RECEIPTS" INCLUDES:

(I)  GROSS OR TOTAL EARNINGS AND TOTAL
RECEIPTS; AND

(II)  FOR A TELEPHONE COMPANY, THE FULL AMOUNT
OF APPROVED AND APPLICABLE FEDERAL AND STATE TARIFF CHARGES FOR
TELEPHONE LIFELINE SERVICE WITHOUT THE DISCOUNT PROVIDED BY
ARTICLE 78, § 26A(C) OF THE CODE.

(3)  "GROSS RECEIPTS" DOES NOT INCLUDE ANY REVENUE
THAT A PUBLIC SERVICE COMPANY DERIVES FROM AN ACTIVITY OTHER THAN
AN ELECTRIC, GAS, OIL PIPELINE, TELEGRAPH, OR TELEPHONE BUSINESS.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from former Art. 81, §
131(b)(2) and the first and second sentences of § 129.

In paragraph (1) of this subsection, the word "total"
is substituted for the former phrase "without any
deductions or credits of any kind whatsoever", for
brevity.

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