The Honorable Casper R. Taylor, Jr.
Speaker of the House
State House
Annapolis MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed House Bill 273.

This bill authorizes the reserve investments of life insurers to include residential real estate loans not exceeding 95 percent of the fair market value of the real estate if certain conditions are met.

Senate Bill 189, which was passed by the General Assembly and signed by me on May 27, 1999, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 273.

Parris N. Glendening