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H.B. 966
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VETOES
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THAT THE PRINCIPAL USED TO PAY THE INCREASE WOULD HAVE QUALIFIED FOR A
MARITAL DEDUCTION OR CHARITABLE CONTRIBUTION DEDUCTION BUT FOR THE
PAYMENT. THE PROPORTIONATE SHARE OF THE REIMBURSEMENT FOR EACH
ESTATE, TRUST, OR BENEFICIARY WHOSE INCOME TAXES ARE REDUCED MUST BE
THE SAME AS ITS PROPORTIONATE SHARE OF THE TOTAL DECREASE IN INCOME TAX.
AN ESTATE OR TRUST SHALL REIMBURSE PRINCIPAL FROM INCOME.
15-529. UNIFORMITY OF APPLICATION AND CONSTRUCTION.
THIS SUBTITLE SHALL BE SO APPLIED AND CONSTRUED TO EFFECTUATE ITS
GENERAL PURPOSE TO MAKE UNIFORM THE LAW WITH RESPECT TO THE SUBJECT
MATTER OF THIS SUBTITLE AMONG THOSE STATES WHICH ENACT IT.
15-530. SHORT TITLE.
THIS SUBTITLE MAY BE CITED AS THE "MARYLAND UNIFORM PRINCIPAL AND
INCOME ACT".
SECTION 3. AND BE IT FURTHER ENACTED, That if any provision of this
Act or the application thereof to any person or circumstance is held invalid for any
reason in a court of competent jurisdiction, the invalidity does not affect other
provisions or any other application of this Act which can be given effect without the
invalid provision or application, and for this purpose the provisions of this Act are
declared severable.
SECTION 4. AND BE IT FURTHER ENACTED, That this Act applies to each
trust or decedent's estate existing on the effect date of this Act, except as otherwise
expressly provided in the will or terms of the trust or under this Act.
SECTION 5. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 2000.
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May 18, 2000
The Honorable Casper R. Taylor, Jr.
Speaker of the House
State House
Annapolis MD 21401
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed House Bill 966 - State Government - Maryland Program Evaluation Act -
Corrective Bill.
This bill makes changes to the Maryland Program Evaluation Act. In addition, the
bill sets new termination dates of July 1, 2011, for four boards waived from full
evaluation in December 1999 - the State Board of Chiropractic Medical Examiners,
the State Board of Physical Therapy Examiners, the State Board of Podiatric Medical
Examiners and the State Collection Agency Licensing Board.
Senate Bill 585, which was passed by the General Assembly and signed by me today,
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- 4632 -
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