J. MILLARD TAWES, Governor                     785

constructed or leased. In addition to being so subject to taxes on
land and improvements thereon, the Authority shall be subject to any
and all benefit assessments, including, but not limited to, sewer and
water charges which may be levied by operation of law.

The Authority and the particular political subdivisions are author-
ized and empowered, in their individual discretion from time to time,
to enter into agreements for such duration as they may determine,
for the payment by the Authority to the political subdivision of a
stated sum or sums in lieu of such taxes or benefit assessments
to which the Authority is subject or for voluntary contributions with
respect to tax exempt property.

As used herein, the term "cargo handling facilities" shall mean
and include, without intending thereby to limit the generality of
such term, any one or more of the following or any combination
thereof: lands, piers, docks, wharves, warehouses, sheds, transit
sheds, elevators, compressors, refrigeration storage plants, buildings,
structures and other facilities, appurtenances and equipment neces-
sary or useful in connection with the handling, storage, loading or
unloading of goods, wares, merchandise, freight and any type or
land of personal property at steamship terminals.

EVERY LEASE OF A CARGO HANDLING FACILITY FOR
A TERM OF MORE THAN ONE YEAR, INCLUDING RENEWAL
OPTIONS, MADE BETWEEN THE AUTHORITY, AS LESSOR,
AND A LESSEE ENGAGED IN BUSINESS FOR PROFIT, SHALL
CONTAIN A PROVISION REQUIRING SUCH LESSEE TO PAY
TO THE AUTHORITY ANNUALLY, A SUM OF MONEY COM-
PUTED ON THE BASIS OF 60% OF THE FULL CASH VALUE
OF THE LEASED LAND AND IMPROVEMENTS THEREON,
EXCEPT TO THE EXTENT SUCH IMPROVEMENTS ARE
TAXED TO THE LESSEE, MULTIPLIED BY THE STATE AND
LOCAL CURRENT REAL ESTATE TAX RATES. EACH SUPER-
VISOR OF ASSESSMENT OF THE RESPECTIVE POLITICAL
SUBDIVISION IS DIRECTED TO COOPERATE WITH THE
AUTHORITY IN ESTABLISHING THE FULL CASH VALUE OF
SUCH LEASED LAND AND IMPROVEMENTS IN THE POLITI-
CAL SUBDIVISION IN WHICH SUCH LEASED LAND AND/OR
IMPROVEMENTS ARE LOCATED.

NO LAND OR IMPROVEMENTS THERETO SHALL BE AC-
QUIRED BY THE MARYLAND PORT AUTHORITY ON A
LEASE BACK BASIS WITHOUT THE PRIOR CONSENT OF
THE GOVERNING BODY OF THE JURISDICTION WITHIN
WHICH THE SAID LAND OR IMPROVEMENTS ARE LOCATED.

Nothing herein contained shall be construed to affect by implica-
tion or otherwise any existing agreement between the Authority and
the Mayor and City Council of Baltimore or any county relating to
payments in lieu of taxes or benefit assessments or relating to tax
exemptions.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1966.

Approved April 29, 1966.