§ 23-501. Definitions
West's Annotated Code of MarylandEducation
MD Code, Education, § 23-501
§ 23-501. Definitions
(b) “Adjusted assessed valuation of real property” means the most recent estimate by the State Department of Assessments and Taxation before the State budget is submitted to the General Assembly, of the sum of 100 percent of the assessed valuation of operating real property of public utilities and 50 percent of the assessed value of all other real property for State purposes as of July 1 of the first completed fiscal year before the fiscal year for which the calculation of State library aid is made under this subtitle.
(c) “Capital expense” means principal and interest payments, or current capital spending or accumulation for:
(d) “Net taxable income” means the amount certified by the State Comptroller for the second full calendar year before the fiscal year for which the calculation of State library aid is made under this subtitle, based on tax returns filed on or before July 1 after that calendar year.
(e) “Population” means population determined from figures available as of July 1 of the calendar year before the fiscal year for which the calculation is made, from:
(f) “Real property” means all property classified as real property under § 8-101(b) of the Tax--Property Article.
Credits
Added as Education § 23-401 by Acts 1978, c. 22, § 2, eff. July 1, 1978. Amended by Acts 1979, c. 423, § 1; Acts 1985, c. 480, § 1. Renumbered as Education § 23-501 by Acts 1996, c. 10, § 16, eff. April 9, 1996. Amended by Acts 2002, c. 121, § 1, eff. July 1, 2002; Acts 2006, c. 44, § 6, eff. April 8, 2006; Acts 2017, c. 62, § 6.
Formerly Art. 77, § 176.
MD Code, Education, § 23-501, MD EDUC § 23-501
Current with legislation effective through June 1, 2023, from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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