Ch. 611

LAWS OF MARYLAND

SECTION 3. AND BE IT FURTHER ENACTED, That the increased
sales and use tax rate for short-term truck rentals provided
under this Act shall be applicable to all transactions completed
on or after July 1, 1988, and the credit against the sales and
use tax for motor vehicle excise tax paid on certain rental
trucks provided under this Act shall be allowed for excise tax
paid on or after July 1, 1988.

SECTION 4. AND BE IT FURTHER ENACTED, That Sections 1 and 3
of this Act shall take effect July 1, 1988. Section 1 of this
Act shall remain effective until January 1, 1989, and on January
1, 1989, and with no further action required by the General
Assembly, Section 1 of this Act shall be abrogated and of no
further force and effect, so that the provisions of Article 81
affected by Section 1 of this Act are repealed in accordance with

Chapter_____(S.B. 2) of the Acts of the General Assembly of

1988, effective January 1, 1989.

SECTION 5. AND BE IT FURTHER ENACTED, That Section 2 of this
Act shall take effect January 1, 1989.

Approved May 27, 1988.

CHAPTER 611

(Senate Bill 710)

AN ACT concerning

Local Investments - United States Government Obligations

FOR the purpose of empowering the county commissioners of each
county, the chief fiscal or administrative officers of each
municipality, body politic, or public body corporate, the
governing body of certain districts or commissions, and
certain other trustees or officers to invest in, purchase,
or take as collateral securities of, or other interest in,
certain management type investment companies or investment
trusts registered under the provisions of the federal
Investment Company Act of 1940; and requiring certain annual
reports regarding certain investments of certain local
government entities.

BY adding to

Article 95 - Treasurer

Section 22N

Annotated Code of Maryland

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