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PARRIS N. GLENDEN1NG, Governor
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Ch. 349
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(5) Prior to the payment of any funds under the provisions of this Act for the
purposes set forth in Section 1(3) above, the grantee shall provide and expend a
matching fund. No part of the grantee's matching fund may be provided, either
directly or indirectly, from funds of the State, whether appropriated or
unappropriated. No part of the fund may consist of real property, in kind
contributions, or funds expended prior to the effective date of this Act. In case of any
dispute as to the amount of the matching fund or what money or assets may qualify
as matching funds, the Board of Public Works shall determine the matter and the
Board's decision is final. The grantee has until June 1, 2002, to present evidence
satisfactory to the Board of Public Works that a matching fund will be provided. If
satisfactory evidence is presented, the Board shall certify this fact and the amount of
the matching fund to the State Treasurer, and the proceeds of the loan equal to the
amount of the matching fund shall be expended for the purposes provided in this Act.
Any amount of the loan in excess of the amount of the matching fund certified by the
Board of Public Works shall be canceled and be of no further effect.
(6) (a) Prior to the issuance of the bonds, the grantee shall grant and convey
to the Maryland Historical Trust a perpetual preservation easement to the extent of
its interest:
(i) On the land or such portion of the land acceptable to the Trust;
and
(ii) On the exterior and interior, where appropriate, of the historic
structures.
(b) The easement must be in form and substance acceptable to the Trust
and the extent of the interest to be encumbered must be acceptable to the Trust.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 2000.
Approved May 11, 2000.
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CHAPTER 349
(House Bill 220)
AN ACT concerning
Motor Vehicle Titling Tax - Exercise of Option to Purchase Under Vehicle
Leasing Agreement
FOR the purpose of exempting from the motor vehicle titling tax a vehicle titled in
this State that is transferred to a lessee who exercises an option under a vehicle
lease to purchase the leased vehicle at the end of the lease; and providing for the
application of this Act; providing for a delayed effective date; providing that a
certain exemption from the motor vehicle titling tax does not apply until certain
bonds are no longer outstanding and unpaid; prohibiting the Motor Vehicle
Administration from collecting the motor vehicle titling tax on certain vehicles in
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- 2025 -
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