recovered Holocaust assets and distributions made to an individual, or the
individual's spouse or descendant, because of the person's status as a victim of Nazi
persecution and creates an exemption against the State inheritance tax.

House Bill 177, which was passed by the General Assembly and signed by me on April
13, 1999, accomplishes the same purpose. Therefore, it is not necessary for me to sign
Senate Bill 229.

Sincerely,

Parris N. Glendening
Governor

Senate Bill 229

AN ACT concerning

Inheritance-Tax and Income Tax —Victims of Nazi Persecution

Holocaust Victims - Inheritance Tax and Income Tax - Insurance Policies

FOR the purpose of providing an exclusion from the inheritance tax for certain assets
stolen from, hidden from, or otherwise lost to a victim of Nazi persecution and
for certain payments or distributions to victims of Nazi persecution or their
spouses or descendants; providing a subtraction modification under the
Maryland individual income tax for certain amounts included in federal
adjusted gross income attributable to, derived from, or related to certain assets
stolen from, hidden from, or otherwise lost to a victim of Nazi persecution and
certain payments or distributions to victims of Nazi persecution or their spouses
or descendants; providing that the exclusion from the inheritance tax and the
subtraction modification include certain interest payments; providing that the
exclusion from the inheritance tax and the subtraction modification do not
include certain assets; providing that the exclusion from the inheritance tax and
the subtraction modification only apply to certain individuals; providing for the
application of this Act; and generally relating to the taxation of certain
distributions or payments attributable to Nazi persecution and made to certain
individuals.

FOR the purpose of excluding from the inheritance tax certain assets or compensation
for certain assets of Holocaust victims that were seized, misappropriated, or lost
due to the actions or policies of Nazi Germany and certain payments or
distributions to Holocaust victims or their spouses or descendants; providing a
subtraction modification under the Maryland individual income tax for certain
amounts included in federal adjusted gross income for income related to certain
assets of Holocaust victims that were seized, misappropriated, or lost due to the
actions or policies of Nazi Germany and for certain payments or distributions to
Holocaust victims or their spouses or descendants; requiring the Insurance
Commissioner to arrange for a certain toll-free telephone number to assist
persons seeking to recover certain insurance proceeds of Holocaust victims;
requiring certain insurers in receipt of certain claims of Holocaust victims to
handle those claims in a certain manner; establishing certain rights of action for