The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed Senate Bill 507.

This bill provides that a business entity or an individual may elect to receive a historic rehabilitation mortgage credit certificate issued by the Director of the Maryland Historic Trust in lieu of the heritage structure rehabilitation tax credit for a "qualified purchased heritage structure" or for any other certified rehabilitation. This bill also extends the time period within which rehabilitation expenditures may be treated as qualified expenditures to the end of the year in which the rehabilitation is completed and the building is designated as a certified heritage structure.

House Bill 789, 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 Senate Bill 507.

Parris N. Glendening