Ch. 128

1995 LAWS OF MARYLAND

SECTION 6 7. AND BE IT FURTHER ENACTED, That, except as provided in
Sections 4 and 5 5 and 6 of this Act, this Act shall take effect July 1, 1995.

Approved May 9, 1995.

CHAPTER 128
(Senate Bill 868)

AN ACT concerning

State Reserve Fund Financing Reductions in State and Local Revenues

FOR the purpose of establishing the Citizen Tax Reduction and. Fiscal Reserve Account
as a continuing, nonlapsing fund in the State Reserve Fund to retain State revenues
for certain purposes; requiring the Governor to include proposed appropriations a
proposed appropriation to the Account in certain amounts in certain budget bills a
certain amount in a certain budget bill; providing that funds may be transferred from
the Account only under certain circumstances; altering the provisions of a certain
account in the State Reserve Fund; requiring the transfer of certain funds within
the State Reserve Fund; requiring that certain information be provided with the
certain State budget bill at the 1996 Session; requiring the Governor to propose
certain legislation at the 1996 Session under certain circumstances; bills; granting a
partial property tax exemption for certain personal property consumed in or used
primarily in research and development; repealing a certain property tax credit that may
be granted in connection with certain personal property used in research and
development on a certain date; defining a certain term; authorizing the governing body of
a municipal corporation or county to provide a certain exemption for certain personal
property consumed in or used primarily in research and development; requiring the
governing body of a municipal corporation or county to submit a copy of a certain law;
providing for the applicability of a certain exemption based on the date of the receipt of
a certain law under certain circumstances; providing for certain effective dates: and
generally relating to the State Reserve Fund certain State and local revenue changes.

BY repealing and reenacting, with amendments,
Article - State Finance and Procurement
Section 7-309 and 7-310(b)
Annotated Code of Maryland
(1995 Replacement Volume)

BY adding to

Article - State Finance and Procurement

Section 7-310.1

Annotated Code of Maryland

(1995 Replacement Volume)

BY adding to

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