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PARRIS N. GLENDENING, Governor Ch. 440
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(b) The bonds shall be known as "consolidated transportation bonds" and may
be issued in any amount as long as the aggregate outstanding and unpaid principal
balance of these bonds and bonds of prior issues does not exceed at any one time the
sum of [$1.2] $1.4 $1.5 billion.
(c) The maximum outstanding and unpaid principal balance of consolidated
transportation bonds and bonds of prior issues as of June 30 for the next fiscal year:
(1) Shall be established each year by the General Assembly in the State
budget; and
(2) May not exceed the limit established in subsection (b) of this section.
3-215.
(b) The tax levied and imposed by this section consists of that part of the
following taxes that are retained to the credit of the Department after distributions to
the political subdivisions:
(1) The motor fuel tax revenue distributed under §§ 2-1103(2) and
2-1104(4) of the Tax - General Article;
(2) The income tax revenue distributed under §§ 2-614 and 2-616 §
2-614 of the Tax - General Article;
(3) The excise tax imposed on vehicles by Part II of Title 13, Subtitle 8 of
this article; and
(4) The sales and use tax revenues distributed under [§ 2-1302.1(a)] §
2-1302.1 of the Tax - General Article.
8-402.
(b) All revenues collected from the following, after deductions provided by law,
shall be credited to the Gasoline and Motor Vehicle Revenue Account:
(1) All of the motor vehicle fuel tax;
(2) Except as otherwise provided by law, 80 percent of the vehicle titling
tax;
(3) Except for revenues collected under Parts III and IV of Title 13,
Subtitle 9 of this article, vehicle registration fees;
(4) The revenue disbursed to this account under §§ 2-614 and 2-616 §
2-614 of the Tax - General Article; and
(5) 80 percent of the funds distributed on short-term vehicle rentals
under [§ 2-1302.1(a)] § 2-1302.1 of the Tax - General Article to the Transportation
Trust Fund from the sales and use tax.
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- 3607 -
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