Ch. 729                                          LAWS OF MARYLAND

Annotated Code of Maryland

(1983 Replacement Volume and 1987 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section(s) 8-716(f) through (h), respectively, of
Article - Natural Resources of the Annotated Code of Maryland be
renumbered to be Section(s) 8-716(g) through (i), respectively.

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows:

Article - Natural Resources

8-716.

(c) (1) Except as provided in subsection (d) of § 8-715 and
in [subsection (e)] SUBSECTIONS (E) AND (F) of this section, and
in addition to the fees prescribed in subsection (b) of this
section, an excise tax is levied at the rate of 5 percent of the
fair market value of the vessel on the issuance of every original
certificate of title required for a vessel under this subtitle,
on the issuance of every subsequent certificate of title for the
sale, resale, or transfer of the vessel, upon the sale within
this State of every other vessel and upon the possession within
this State of a vessel purchased outside this State to be used
principally in this State.

(F)(1) THIS SUBSECTION APPLIES TO POSSESSION WITHIN THIS
STATE OF A VESSEL IF:                                         

(I)  THE VESSEL WAS FORMERLY:

1.  TITLED AND REGISTERED OR NUMBERED IN
ANOTHER STATE JURISDICTION; OR

2.  FEDERALLY DOCUMENTED FOR PRINCIPAL USE
AND PRINCIPALLY USED IN ANOTHER STATE JURISDICTION;

(II)  THE PRESENT OWNER, WHEN POSSESSION WITHIN
THIS STATE OF THE VESSEL BECOMES SUBJECT TO THE TAX:

1. HAS NOT BEEN A MARYLAND RESIDENT FOR
MORE THAN 30 DAYS; OR

2. IS A NONRESIDENT; AND

(III) THE PRESENT OWNER HAS PAID A SALES OR
EXCISE TAX ON THE VESSEL TO THE OTHER STATE JURISDICTION; AND

(IV) (III) THE STATE JURISDICTION TO WHICH THE
TAX WAS PAID WOULD ALLOW AN EXEMPTION OR CREDIT UNDER ITS SALES

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