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PARRIS N. GLENDENING, Governor
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Ch. 417
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BY repealing
Article - Tax - General
Section 10-207(u)
Annotated Code of Maryland
(1997 Replacement Volume and 2001 Supplement)
BY repealing and reenacting, with amendments,
Article - Tax - General
Section 10-307(g)
Annotated Code of Maryland
(1997 Replacement Volume and 2001 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Financial Institutions
13-708.
(a) In addition to the powers set forth elsewhere in this subtitle, the Authority
may:
[(18) With respect to site acquisition, construction, and development of the
Hippodrome Performing Arts Center facility, transfer, or allow any Authority affiliate
to transfer, to any individual or entity the full amount of any State or local tax credit
to which the Authority or Authority affiliate would be entitled if it were subject to the
tax against which the credit is allowed;]
[(19)] (18) Impose the admissions and amusement tax authorized under §
4-102 of the Tax - General Article; and
[(20)] (19) Do all things necessary or convenient to carry out the powers
granted by this subtitle.
13-712.
(a) (1) (i) Subject to the prior approval of the Board of Public Works and
the provisions of subparagraphs (ii), (iii), (iv), (v), and (vi) of this paragraph, the
Authority may at any time and from time to time issue bonds for any corporate
purpose, including the establishment of reserves and the payment of interest. In this
subtitle the term "bonds" includes notes of any kind, interim certificates, refunding
bonds, or any other evidence of obligation and "tax supported debt" of the State has
the meaning assigned to such term in § 8-104 of the State Finance and Procurement
Article.
(ii) 1. Unless authorized by the General Assembly, the Board of
Public Works may not give approval to an issuance of bonds for sports facilities at
Camden Yards which constitute tax supported debt of the State, if after issuance
there would be outstanding and unpaid $235 million face amount of bonds which
constitute tax supported debt of the State, whether taxable or tax exempt, for the
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- 3175 -
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