Ch. 786                                           LAWS OF MARYLAND

Article - Tax Property

7-230.

A vehicle that is OF A TYPE REQUIRED TO BE registered under
Title 13[, Subtitle 9, Part II] of the Transportation Article is
not subject to valuation or property tax IF:

(1) THE VEHICLE IS REGISTERED UNDER TITLE 13,

SUBTITLE 9, PART II OF THE TRANSPORTATION ARTICLE; OR

(2) THE VEHICLE, INCLUDING A VEHICLE THAT IS PART OF
THE STOCK IN BUSINESS OF A PERSON ENGAGED IN A COMMERCIAL
ENTERPRISE, IS OF A TYPE REQUIRED TO BE REGISTERED UNDER TITLE
13, SUBTITLE 9, PART II OF THE TRANSPORTATION ARTICLE.

SECTION 3. AND BE IT FURTHER ENACTED, That prior to the
commencement of the 1990 1991 Session of the General Assembly,
the Department of Fiscal Services shall conduct a study and
report to the General Assembly on the feasibility of providing an
alternate means of providing revenues to local governments to
offset revenue losses resulting from this Act. alternate revenue
sources for local governments equivalent to on greater than the
revenue amounts delayed by the counties and municipal
corporations from the property tax on vehicles valued as stock in
business.

SECTION 2. 3. 4. 3. AND BE IT FURTHER ENACTED, That Section
1 Sections 1 and 3 of this Act shall take effect July 1, 1989.
Section 1 of this Act shall remain effective for a period of two
three years and, at the end of June 30, 1991 1992, 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.

SECTION 4. 5. AND BE IT FURTHER ENACTED, That Section 2 of
this Act shall take effect July 1, 1991-1992.

Approved May 25, 1989.

- 4282 -