WILLIAM DONALD SCHAEFER, Governor                          Ch. 146

applicant's matching fund may be provided, either directly or indirectly, from funds of the
State, whether appropriated or unappropriated. No part of the fund may consist of real
property or in kind contributions. The fund may consist of funds expended prior to the
effective date of this Act. In case of any dispute as to the amount of the matching fund or
what money or assets may qualify as matching funds, the Board of Public Works shall
determine the matter, and the Board's decision is final. The Board of Directors of the
Western Maryland Scenic Railroad Development Corporation has until June 1, 1993, to
present evidence satisfactory to the Board of Public Works that a matching fund will be
provided. If satisfactory evidence is presented, the Board shall certify this fact and the
amount of the matching fund to the State Treasurer, and the proceeds of the loan equal
to the amount of the matching fund shall be expended for the purposes provided in this
Act. Any amount of the loan in excess of the amount of the matching fund certified by the
Board of Public Works shall be canceled and be of no further effect.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act is an emergency
measure, is necessary for the immediate preservation of the public health and safety, has
been passed by a yea and nay vote supported by three-fifths of all the members elected to
each of the two Houses of the General Assembly, and shall take effect from the date it is
enacted.

Approved April 26, 1993.

CHAPTER 146
(House Bill 267)

AN ACT concerning

Property Tax - Intangible Personal Property

FOR the purpose of repealing obsolete provisions relating to the assessment and taxation
of intangible personal property.

BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 6-101 and 8-201
Annotated Code of Maryland
(1986 Volume and 1992 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Tax - Property

6-101.

(a) (1) Except as otherwise provided in this article, all property located in this
State is subject to assessment and property tax and is taxable to the owner of the
property.

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