Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 3-215: (a) (1) For the purpose of paying the principal of and interest on consolidated transportation bonds as they become due and payable, there is hereby levied and imposed an annual tax that consists of the taxes specified in this section and, to the extent necessary and except as otherwise provided in
What this law says, in plain English
This statute establishes an annual tax on motor fuel, income, vehicle excise taxes, and other transportation revenues to pay principal and interest on consolidated transportation bonds. Tax proceeds must be deposited in a sinking fund maintained by the State Treasurer.
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