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Ch. 440 2002 LAWS OF MARYLAND
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SECTION 3. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
Article - Tax - Property
13-209.
(a) The revenue from transfer tax is payable to the Comptroller for deposit in
a special fund.
(b) [(1) The special fund under subsection (a) of this section is used to pay
principal and interest on the bonds issued under the Outdoor Recreation Land Loan
of 1969.
(2)] For the fiscal year [commencing July 1, 1991] BEGINNING JULY 1,
2002 and for subsequent fiscal years, up to 3% of the revenues in the special fund [not
required under paragraph (1) of this subsection] may be appropriated in the State
budget for salaries and related expenses in the Departments of General Services and
Natural Resources and in the Department of Planning necessary to administer Title
5, Subtitle 9 of the Natural Resources Article (Program Open Space).
(c) (1) Subject to subsection (e) of this section, FOR EACH OF THE FISCAL
YEARS BEGINNING JULY 1, 2002 AND JULY 1, 2003, OF the balance of the revenue in the
special fund, not required under subsection (b) of this section[,]:
(I) 50% shall be allocated as provided in [this subsection]
SUBSECTION (D) OF THIS SECTION: AND
(II) 50% SHALL BE ALLOCATED TO THE GENERAL FUND OF THE
STATE.
(I) $47,268,585 SHALL BE ALLOCATED TO THE GENERAL FUND OF
THE STATE; AND
(II) THE REMAINDER SHALL BE ALLOCATED AS PROVIDED IN
SUBSECTION (D) OF THIS SECTION
(2) SUBJECT TO SUBSECTION (E) OF THIS SECTION, FOR THE FISCAL
YEARS BEGINNING JULY 1, 2004 AND EACH SUBSEQUENT FISCAL YEAR THE
BALANCE OF THE REVENUE IN THE SPECIAL FUND, NOT REQUIRED UNDER
SUBSECTION (B) OF THIS SECTION SHALL BE ALLOCATED AS PROVIDED IN
SUBSECTION (D) OF THIS SECTION.
[(2) For the fiscal year commencing July 1, 1993, 50% of the balance shall
be allocated as provided under paragraph (5) of this subsection and 50% shall be
allocated to the General Fund of the State.
(3) For the fiscal year commencing July 1, 1994, 70% of the balance shall
be allocated as provided under paragraph (5) of this subsection and 30% shall be
allocated to the General Fund of the State.
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- 3570 -
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