Section 29-407 - Computation of adjusted allowance [Amendment subject to abrogation]. - Maryland Statutes

§ 29-407. Computation of adjusted allowance [Amendment subject to abrogation].
 

(a)  In general.- Except as provided in subsection (b) of this section, the total allowance payable in any fiscal year shall be the sum of: 

(1) the initial allowance; 

(2) all prior cost-of-living adjustments; 

(3) the cost-of-living adjustment provided for under § 29-406 of this subtitle; and 

(4) any additional annuity. 

(b)  Computation of adjusted allowance - Fiscal year 2012.- For fiscal year 2012, the allowance payable as provided in subsection (a) of this section shall be reduced by the difference between the allowance payable for fiscal year 2010 and the allowance that would have been paid for fiscal year 2011 if the cost-of-living adjustment had been calculated as provided under § 29-406(a) of this subtitle. 
 

[An. Code 1957, art. 73B, §§ 4-413, 5-412, 8-405, 10-221; 1994, ch. 6, § 2; 2010, chs. 56, 57.]