54 LAWS OF MARYLAND [CH. 18

such expansion project is greater than $25, 000. 00 and less

than$100, 000. 00;

(2) Five years from the date of completion of such

extension, expansion or addition, if the assessable value of

such expansion project is greater than $100, 000. 00 and
less than $250, 000. 00;

(3) Seven years from the date of completion of such
extension, expansion or addition, if the assessable value of
such expansion project is greater than $250, 000. 00 and
less than $500, 000. 00;

(4) Ten years from the date of completion of such
extension, expansion or addition, if the assessable value of

such expansion project is greater than $500, 000. 00 and
less than $1, 000, 000. 00;

(5) Fifteen years from the date of completion of such
extension, expansion or addition, if the assessable value of

such expansion project is greater than $1, 000, 000. 00 and
less than $5, 000, 000. 00;

(6) Twenty years from the date of completion of such
extension, expansion or addition, if the assessable value of

such expansion project is greater than $5, 000, 000. 00.

(1) TEN YEARS FROM THE DATE OF COMPLE-
TION OF SUCH EXPANSION, EXTENSION OR ADDI-
TION, IF THE ASSESSABLE VALUE OF SUCH EX-
PANSION, EXTENSION OR ADDITION, IS GREATER
THAN TEN THOUSAND DOLLARS;

(D) THE AGGREGATE ASSESSABLE VALUE OF
ALL EXPANSION PROJECTS OR UNITS COMPLETED
IN EACH CALENDAR YEAR SHALL DETERMINE
THE AMOUNT OF SAID EXEMPTION ALLOWANCE
AND THE TIME OF THE BEGINNING OF SAID EX-
EMPTION PERIOD, AS SPECIFIED IN SUB-SECTION
(C) ABOVE.

(d) Provided, however, that there shall be no exemp-
tions for mere replacements of deteriorated or obsolete
tools, machinery, equipment and buildings. However,
tools, machinery, equipment and buildings constructed or
acquired for the purpose of increasing production, or im-
proving the competitive position of industries, factories or
plants, shall be exempt, but only to the extent of the in-
creased assessable value resulting from such improve-
ment, expansion or addition.

(c) (F) All property exempted herein shall be listed in a
separate column upon the assessment schedule filed an-