(e) The amounts estimated under subsections (c) and (d) of this section shall
be paid into the expense funds of the several systems during the ensuing year on a pro
rata basis according to the total assets held by each system.

(f) The Board of Trustees may combine the expense funds of the several
systems for budgetary and administrative efficiency.

(g) On or before December 31 of each year, the Board of Trustees shall report
to the General Assembly the actual amount spent for investment management
services during the preceding fiscal year.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1999.

Approved May 27, 1999.

CHAPTER 596
(Senate Bill 736)

AN ACT concerning

Education - Public School Holidays

FOR the purpose of establishing Martin Luther King, Jr. Day as a public school
holiday; repealing the requirement that public schools devote part of the day to
appropriate activities on Martin Luther King, Jr. Day; repealing the authority of
public schools in certain counties to remain open on primary and general
election days; and generally relating to public school holidays in the State.

BY repealing and reenacting, with amendments,
Article - Education
Section 7-103(c)
Annotated Code of Maryland

(1997 Replacement Volume and 1998 Supplement)

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

Article - Education

7-103.

(c) (1) The following days are public school holidays:

(i) Thanksgiving Day and the day after;

(ii) Christmas Eve and from then through January 1;

(iii) MARTIN LUTHER KING, JR. DAY;