WILLIAM DONALD SCHAEFER, Governor

Ch. 2

9-803. PAYMENTS.

[(b)] Payment of the State grants UNDER THIS SUBTITLE to
[subdivisions] COUNTIES shall be made quarterly by the State
Treasurer [upon] ON warrants of the State Comptroller, based upon
THE certifications by the Department of Assessments and Taxation,
which shall certify the amount payable to each county [and to the
City of Baltimore].

9-804. INCREASED AMOUNT OF GRANT.

[(c)] The grant provided [by subsection (a) of this
section, for fiscal 1968-69 and thereafter,] UNDER § 9-801 OF
THIS SUBTITLE shall be increased for each county [of this State
and the City of Baltimore] by an amount [which shall be as to]
FOR each [such subdivision] COUNTY THAT EQUALS the lesser of:

(1)   [three hundred thousand dollars ($300,000)]
$300,000; or

(2)  the amount, if any, by which a levy of [three
cents (]3 cents[)] per [one hundred dollars (]$100[.00)] of
assessed valuation applied to the real property [as defined]
DESCRIBED in [subsection (a) of this section] § 9-802 OF THIS
SUBTITLE in [such subdivision] THAT COUNTY taxable at full rate
for State purposes is less than the AMOUNT OF revenue THAT THE
DIRECTOR OF THE DEPARTMENT OF ASSESSMENTS AND TAXATION CERTIFIES
AS HAVING BEEN realized FOR THE TAXABLE YEAR 1967-68 by [such
subdivision (] THAT COUNTY, including amounts redistributed to
[municipalities therein)] MUNICIPAL CORPORATIONS IN THE COUNTY,
from the taxation of shares of capital stock of [commercial]:

(I)  COMMERCIAL banks[,];

(II)  safe deposit and trust companies[,]; and

(III)   [finance] FINANCE companies, INCLUDING
FINANCE, CREDIT, LOAN, MORTGAGE, AND COMMERCIAL BANKING
CORPORATIONS, AND ANY OTHER CORPORATION, ASSOCIATION, OR
JOINT-STOCK COMPANY OTHER THAN BANKS OR TRUST COMPANIES
SUBSTANTIALLY COMPETING WITH NATIONAL BANKS IN THIS STATE [as
defined in § 2 of this article for the taxable year 1967-68, as
certified by the Director].

9-805. RESERVED.

9-806. RESERVED.

PART II. GRANT TO ANNE ARUNDEL COUNTY.

[12H-1.] 9-807. AUTHORIZED.

[(a)] Notwithstanding the provisions of §§ 6-102, 7-211,
and 7-401 of the Tax - Property Article, for all private

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