HARRY HUGHES, Governor

457

BOTH PAID TO AND COLLECTED BY THE DIRECTOR OF FINANCE OF PRINCE
GEORGE'S COUNTY.

(B)  RECORDING IN 2 OR MORE COUNTIES.

(1)  A PERSON WHO OFFERS FOR RECORDATION AN INSTRUMENT
OF WRITING FOR PROPERTY LOCATED IN 2 OR MORE COUNTIES SHALL
SUBMIT TO THE CLERK OF THE CIRCUIT COURT FOR EACH COUNTY A
CERTIFICATE SHOWING THE APPORTIONMENT OF THE TOTAL VALUE OF THE
PROPERTY BETWEEN EACH OF THE COUNTIES.

(2)  FOR AN INSTRUMENT OF WRITING RECORDED UNDER
PARAGRAPH (1) OF THIS SUBSECTION, THE RECORDATION TAX IN EACH
COUNTY IN WHICH THE PROPERTY IS LOCATED IS:

(I)  PAYABLE AT THE RATE OF TAX THAT APPLIES IN
THE COUNTY; AND

(II)  BASED ON THE RATIO THAT THE VALUE OF THE
PROPERTY IN THAT COUNTY BEARS TO THE VALUE OF THE PROPERTY IN ALL •
COUNTIES.

(C)  PUBLIC UTILITY BONDS SECURITY TRANSFER PAYMENTS.

RECORDATION TAX COLLECTED UNDER § 12-103(D) OF THIS TITLE
SHALL BE PAID TO THE COMPTROLLER FOR DEPOSIT IN THE GENERAL FUND
OF THE STATE.

(D)  CORPORATE PROPERTY TRANSFER PAYMENTS.

THE RECORDATION TAX COLLECTED UNDER § 12-103(E) OF THIS
TITLE SHALL BE PAID TO THE COMPTROLLER. AFTER DEDUCTION OF THE
COST TO THE DEPARTMENT OF COLLECTING THE TAX, 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.

(E)  SECURITY AGREEMENT PAYMENTS.

THE RECORDATION TAX COLLECTED UNDER § 12-103(F) OF THIS
TITLE SHALL BE PAID TO THE COMPTROLLER. AFTER DEDUCTION OF THE
COST TO THE DEPARTMENT OF COLLECTING THE TAX, 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.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second and third
sentences of former Art. 81, § 277(s), the third and
fourth sentences of (t), and the second sentence of
(r), as it related to collection, and the third
sentence of § 278(a) and the fourth sentence, except
as that sentence related to apportionment of county