Martin O'Malley, Governor

Ch. 3

2010 Trust Fund in the Department of Natural Resources as a special fund to be
used for certain purposes: providing for the distribution of certain property
transfer tax and motor vehicle titling tax revenues to the Fund; providing for

the distribution of certain sales and use tax revenues to the Transportation

Trust Fund; providing for the pledging of certain revenues for certain purposes:
increasing the maximum allowable aggregate amount of outstanding and
unpaid consolidated transportation bonds and bonds of prior issues; altering the
definition of tangible personal property under the sales and use tax to include a
right to use certain games of entertainment; altering the definition of "taxable
service" under the sales and use tax to impose the tax on certain services;
designating certain periods a certain period each year in certain fiscal years to
be tax free periods a tax free period during which an exemption from the sales
and use tax is provided for the sale of certain appliances and products that meet
or exceed certain applicable energy efficiency guidelines and certain solar water
heaters: designating certain periods a certain period each year in certain fiscal

years to be tax-free periods a tax-free period during which a certain sales and

use tax exemption for the sale of certain clothing or footwear is provided;
repealing a prohibition against certain advertisements or statements by vendors
regarding the payment of the sales and use tax: authorizing vendors to assume
or absorb all or any part of the sales and use tax imposed on a retail sale or use
and to pay that sales and use tax on behalf of the buyer: repealing certain sales
and use tax exemptions relating to certain computer services: providing that the
sales and use tax does not apply to a sale of computer services for use by a
certain individual participating in a certain home school program: altering the
State income tax rate on the Maryland taxable income of corporations; requiring
the Comptroller to distribute certain corporate income tax revenues for certain
fiscal years to a certain special fund and a certain account in the Transportation
Trust Fund to the General Fund of the State for certain fiscal years to a certain
special fund: requiring that the Comptroller distribute certain income tax
revenues to the General Fund of the State: establishing the Higher Education
Investment Fund; specifying that the Fund is a special, nonlapsing fund, that
the State Treasurer shall hold the Fund separately, and that the Comptroller
shall account for the Fund; specifying that the Fund consists of certain revenues
and other moneys accepted for certain purposes; requiring certain investment
earnings to be credited to the Fund; allowing the Fund to be used only for
certain purposes and under certain circumstances; altering a certain
modification under the Maryland income tax relating to certain federal tax
changes; requiring certain corporations to compute Maryland taxable income
using a certain method; providing that, subject to regulations of the
Comptroller, certain groups of corporations shall file a combined income tax
return reflecting the aggregate income tax liability of all of the members of the
group; requiring the Comptroller to adopt certain regulations; requiring certain
regulations to be consistent with certain regulations adopted by the Multistate
Tax Commission; establishing the Maryland Business Tax Reform Commission
to review and evaluate the State's current business tax structure and to make

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