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PARRIS N. GLENDENING, Governor
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S.B. 390
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(4) The amount disallowed as a subtraction under this subsection for any
taxable year as a result of the limitation under paragraph (3) of this subsection shall
be treated as having been contributed in the next 10 succeeding taxable years and,
subject to the $2,500 annual limitation for each investment account, may be carried
over to succeeding taxable years as a subtraction.
SECTION 2. AND BE IT FURTHER ENACTED, That, except as otherwise
provided in this section, this Act shall be applicable to all taxable years beginning
after December 31, 2001. The provisions of § 18-1909 of the Education Article as
amended by this Act do not apply to prepaid tuition contracts purchased during the
December 31, 2001 to March 22, 2002 enrollment period for the Maryland Prepaid
College Trust. Multiple investment accounts opened on or after January 1, 2002 by
the same contributor for a single beneficiary shall be treated as multiple portfolios
within one investment account for purposes of the subtraction modification under §
10-208(o) of the Tax—General Article.
SECTION 3. 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2002 and shall be applicable to all taxable years beginning after
December 31, 2001.
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May 16, 2002
The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401
Dear Mr. President:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed Senate Bill 390 - Labor and Employment - Employee Leave for Adoptions -
Sunset Repeal.
This bill eliminates the termination provision for the requirement that an employer
who provides paid leave to an employee following the birth of the employee's child
must provide the same paid leave to an employee when a child is placed with the
employee for adoption.
House Bill 540, which was passed by the General Assembly and signed by me,
accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate
Bill 390.
Sincerely,
Parris N. Glendening
Governor
Senate Bill No. 390
AN ACT concerning
Labor and Employment - Employee Leave for Adoptions - Sunset Repeal
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- 4557 -
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