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Ch. 440 2002 LAWS OF MARYLAND
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SECTION 18. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
Article - Tax - General
11-105.
(a) Except as provided in subsection (b) of this section, a person who timely
files a sales and use tax return is allowed, for the expense of collecting and paying the
tax, a credit equal to [0.9%] 0.45% of the gross amount of sales and use tax that the
person is to pay to the Comptroller.
(b) (1) Subject to paragraph (2) of this subsection, the credit allowed under
this section is [1.2%] 0.6% of the first $6,000 of the gross amount of sales and use tax
that the person is to pay with each return.
(2) For a vendor who files or is eligible to file a consolidated return under
§ 11-502 of this title, the credit allowed under paragraph (1) of this subsection is
[1.2%] 0.6% of the first $6,000 of the gross amount of sales and use tax that the
person is or would be required to pay with the consolidated return.
Article - Transportation
13-812.
(a) For collecting and remitting the tax, a licensed dealer who, on behalf of the
Administration, collects the excise tax imposed by this part may keep the lesser of
[$24] $12 per vehicle or [1.2] 0.6 percent of the gross excise tax the dealer collects.
SECTION 19. AND BE IT FURTHER ENACTED, That, notwithstanding any
other provision of law, to recognize the reduction in the general fund requirement for
debt service resulting from bond premiums, accrued interest, and refunding, for fiscal
year 2003 only, the General Assembly may reduce the general fund appropriation to
program RA02.45 Public School Construction by up to $14,000,000.
SECTION 20. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
Article - Commercial Law
17-301.
(a) The following property held by a banking or financial organization, or
business association is presumed abandoned, if the depositor has been issued a notice
by first class mail to the depositor's last known address of the fact that the property
will be considered abandoned and there is no response within 30 days to the
notification:
(1) Any demand, savings, or matured time deposit account made with a
banking organization, together with any interest or dividend on it, excluding any
charges that lawfully may be withheld, unless, within [4] 3 years, the owner has:
(i) Increased or decreased the amount of the deposit;
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