Martin O'Malley, Governor

Ch. 3

(B) THE COMPTROLLER SHALL:

(1) EMPLOY AND DETERMINE THE DUTIES AND COMPENSATION
OF THE INSPECTORS AND OTHER PERSONNEL NECESSARY TO ENFORCE THIS
SUBTITLE; AND

(2) ADOPT REGULATIONS NECESSARY TO EFFECTUATE AND

ENFORCE THE PROVISIONS OF THIS SUBTITLE.

SECTION 9. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:

SECTION 7. AND BE IT FURTHER ENACTED. That the Laws of Maryland
read as follows:

Article - Tax - Property

12-110.

(d) (1) THE DEPARTMENT SHALL DEDUCT THE COST OF

ADMINISTERING THE RECORDATION TAX FROM THE TAXES COLLECTED UNDER
THIS TITLE AND CREDIT THOSE REVENUES TO THE FUND ESTABLISHED UNDER
§ 1-203.3 OF THE CORPORATIONS AND ASSOCIATIONS ARTICLE.

(2) [The] AFTER DEDUCTING THE REVENUES REQUIRED UNDER
PARAGRAPH (1) OF THIS SUBSECTION, THE recordation tax collected under [§
12-103(d)] §§ 12-103(D) AND 12-117 of this title shall be paid to the Comptroller.
[After deduction of the cost to the Department of collecting the tax, the] THE
Comptroller shall distribute the revenue to the counties in the ratio that the
recordation tax collected in the prior fiscal year in each county bears to the total
recordation tax collected in all counties in that year.

12-117.

(a) (1) in this section the following words have the
meanings indicated.

(2) "CONTROLLING INTEREST" MEANS:

(i) more than 80% 90% 80% of the total value of all
classes of stock of a corporation;

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