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Ch. 225
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2000 LAWS OF MARYLAND
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(2) THIS SECTION DOES NOT AFFECT THE AUTHORITY OF STATE
CORRECTIONAL FACILITIES TO SEIZE AND DISPOSE OF PERSONAL PROPERTY THAT
IS CONTRABAND PER SE IN ACCORDANCE WITH APPLICABLE LAW WITHOUT A
HEARING.
SECTION 2. AND BE IT FURTHER ENACTED, That Section(s) 3-610 of
Article - Correctional Services of the Annotated Code of Maryland be renumbered to
be Section(s) 3-609.
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 2000.
Approved May 11, 2000.
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CHAPTER 225
(Senate Bill 56)
AN ACT concerning
Financial Institution Franchise Tax—Termination Institutions - Taxation.
FOR the purpose of terminating the financial institution franchise tax and the
savings and loan association franchise tax; providing that financial institutions
are subject to the income tax after a certain date; providing that, for income tax
purposes, interest received by certain financial institutions from one of its
subsidiary corporations shall be allocated to this State only to a certain extent;
altering the personal property tax exemption for certain financial institutions;
repealing obsolete or redundant provisions; consolidating certain provisions;
repealing the property tax exemption for certain personal property of savings
and loan associations; providing that the Department of Assessments and
Taxation retains and the Comptroller retain certain enforcement powers;
requiring the State Comptroller, under certain circumstances, to assess interest
and penalty for a certain fiscal year; providing for the effective date and
application of this Act; and generally relating to the termination of the financial
institution franchise tax taxation of financial institutions.
BY repealing and reenacting, without amendments,
Article - Tax — General
Section 8-101(c)
Annotated Code of Maryland
(1997 Replacement Volume and 1999 Supplement)
BY repealing and reenacting, with amendments,
Article — Tax - General
Section 8-202(a) and 8-301
Annotated Code of Maryland
(1997 Replacement Volume and 1999 Supplement)
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- 1476 -
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