PARRIS N. GLENDENING, Governor

Ch. 165

(6) No portion of the proceeds of the loan or any of the matching funds may be
used for the furtherance of sectarian religious instruction, or in connection with the
design, acquisition, or construction of any building used or to be used as a place of
sectarian religious worship or instruction, or in connection with any program or
department of divinity for any religious denomination. Upon the request of the Board of
Public Works, the grantee shall submit evidence satisfactory to the Board that none of the
proceeds of the loan or any matching funds have been or are being used for a purpose
prohibited by this Act.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1997.

Approved April 29, 1997.

CHAPTER 165
(Senate Bill 346)

AN ACT concerning

Recordation Tax - Exemption for Purchase Money Mortgages

FOR the purpose of providing that in determining eligibility for a certain exemption from
the State recordation tax, the date that an instrument of writing is fully executed is
the later of date of last acknowledgment or the date stated on the instrument of
writing.

BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 12-108(i)
Annotated Code of Maryland
(1994 Replacement Volume and 1996 Supplement)

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

Article - Tax - Property

12-108.

(i) (1) In this subsection, "purchase money mortgage" or "purchase money
deed of trust" means a mortgage or deed of trust that:

(i) is given by the transferee of real property with respect to the
property purchased;

(ii) is delivered as part of the same transaction as the instrument of
writing that transfers the property purchased and that is subject to the recordation tax;

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