Martin O'Malley, Governor

Ch. 3

(2) 6.25% TO THE GASOLINE AND MOTOR VEHICLE REVENUE
ACCOUNT IN THE TRANSPORTATION TRUST FUND.

After making the distribution required under § 2-613 of this
subtitle,:

(1)      FOR FISCAL YEARS 2008 AND 2009 ONLY, OF THE REMAINING
INCOME TAX REVENUE FROM CORPORATIONS, THE COMPTROLLER SHALL
DISTRIBUTE MONTHLY:

(I) 6,25% TO THE HIGHER EDUCATION INVESTMENT FUND
ESTABLISHED UNDER § 15-106.6 OF THE EDUCATION ARTICLE; AND

(II) 6.25% TO THE GENERAL FUND; AND

(i) for fiscal year 2008 only:

1. $16,000,000 to the higher education
investment fund established under § 15-106.6 of the education
article; and

2. the amount by which 15.15% of the
remaining income tax revenue from corporations exceeds $16.000.000
to the General Fund: and

(ii) for fiscal year 2009 only:

1. 6% to the Higher Education Investment
Fund established under § 15-106.6 of the Education Article: and

2. 9.15% to the General Fund: and

(2)  FOR FISCAL YEAR 2010 AND SUBSEQUENT FISCAL YEARS, THE

Comptroller shall distribute 12.5% 15.15% of the remaining income

TAX REVENUE FROM CORPORATIONS TO THE GENERAL FUND OF THE STATE.

2-614.

(a) After making the [distribution] DISTRIBUTIONS required under
[§ 2-613] §§ 2-613 AND 2-613.1 of this subtitle, the Comptroller shall distribute
monthly 24% of the remaining income tax revenue from corporations to a special fund
to be distributed as provided in subsection (b) of this section.

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