VETOES

(3)  If the additional debt under paragraph (2) of
this subsection is applied to repayment of the debt previously
incurred, the recordation tax does not apply to the additional
debt.

(4)   [If the borrower under paragraph (1) of this
subsection is a consumer borrower, as defined in § 12-901 of the
Commercial Law Article, the] THE recordation tax may be computed
and paid on the [aggregate] MAXIMUM OUTSTANDING principal sum,
however expressed, that is stated to be secured by the instrument
of writing, without regard to the amount of secured debt actually
incurred, ADVANCED OR READVANCED.

(5)  When credit is originally extended UNDER
PARAGRAPH (1) OF THIS SUBSECTION to a consumer borrower AS
DEFINED IN § 12-901 OF THE COMMERCIAL LAW ARTICLE, the lender
shall inform the borrower that:

(i) the borrower may pay the recordation tax
under paragraphs (1) and (2) or paragraph (4) of this subsection;
and

(ii) if the borrower elects to pay the
recordation tax as additional debt is incurred under paragraph
(2) of this subsection, the consumer borrower is responsible for
payment of the additional tax and any penalty provided by §
14-1012 of this article.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1988.

May 27, 1988

The Honorable R. Clayton Mitchell, Jr.
Speaker of the House of Delegates
State House
Annapolis, Maryland 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed House Bill 919.

This bill permits the combination of juror qualification and
summoning into one procedure. The bill makes it an option to use
the one-step approach or to continue the presently used method
consisting of two mailings.

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