WILLIAM DONALD SCHAEFER, Governor                       Ch. 2

Subsection (b) of this section is new language
substituted for the third sentence of former Art. 2B,
§ 141(a), as it related to revenues from wines, to
clarify the fund from which refunds are paid.

Defined terms: "Alcoholic beverage tax" § 1-101
"Comptroller" § 1-101 "Revenue" § 2-101

SUBTITLE 4. BOXING AND WRESTLING TAX REVENUE.

2-401. PAYMENT OF REFUNDS.

THE COMPTROLLER SHALL PAY REFUNDS RELATING TO THE BOXING AND
WRESTLING TAX THAT THE STATE ATHLETIC COMMISSION CERTIFIES UNDER
§ 6-403 OF THIS ARTICLE FROM THE GENERAL FUND OF THE STATE.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 56, §
114B(2).

Defined terms: "Boxing and wrestling tax" § 1-101
"Comptroller" § 1-101 "Revenue" § 2-101

SUBTITLE 5. FINANCIAL INSTITUTION FRANCHISE TAX
REVENUE DISTRIBUTION.

2-501. INSTITUTIONS OTHER THAN SAVINGS BANKS AND SAVINGS AND
LOAN ASSOCIATIONS.

EXCEPT FOR REVENUE FROM SAVINGS BANKS AND SAVINGS AND LOAN
ASSOCIATIONS, THE COMPTROLLER SHALL DISTRIBUTE THE FINANCIAL
INSTITUTION FRANCHISE TAX REVENUE TO THE GENERAL FUND OF THE
STATE.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 81, §
128A(e)(5)(ii).

The introductory clause of this section, "[e]xcept for
revenue from savings banks and savings and loan
associations", is added to clarify that the
distribution under this section only applies to
revenue collected from financial institutions that
were taxed under former Art. 81, § 128A.

Defined terms: "Comptroller" § 1-101
"Financial institution franchise tax" § 1-101
"Revenue" § 2-101

2-502. SAVINGS BANKS AND SAVINGS AND LOAN ASSOCIATIONS.

THE COMPTROLLER SHALL DISTRIBUTE THE FINANCIAL INSTITUTION
FRANCHISE TAX REVENUE ATTRIBUTABLE TO SAVINGS BANKS AND SAVINGS
AND LOAN ASSOCIATIONS TO A COUNTY IN THE AMOUNT THAT THE
DEPARTMENT CERTIFIES UNDER § 8-213 OF THIS ARTICLE AS THE
COUNTY'S SHARE.

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