1294                            LAWS OF MARYLAND                       CH. 645

Sec. 10. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved May 7, 1968.

CHAPTER 645
(House Bill 130)

AN ACT to add new Section 12-1 to Article 81 of the Annotated
Code of Maryland (1965 Replacement Volume and 1967 Supple-
ment), title "Revenue and Taxes," subtitle "What Shall be Taxed
and Where," to follow immediately after Section 12H thereof, to
provide a real property tax credit for certain unsold or unrented
dwellings in Prince George's County. , TO PROVIDE FOR NOTICE
TO THE DEPARTMENT OF ASSESSMENT AND TAXATION
WHEN SUCH DWELLING IS SOLD, RENTED OR OCCUPIED,
AND TO PROVIDE FOR A FORFEITURE OF TAX CREDIT
WHEN SAID NOTICE PROVISION IS NOT COMPLIED WITH,
AND RELATING GENERALLY TO THE PROCEDURES AND
PROVISIONS APPLICABLE TO THIS TAX CREDIT.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 12-I be and it is hereby added to Article 81 of the
Annotated Code of Maryland (1965 Replacement Volume and 1967
Supplement), title "Revenue and Taxes," subtitle "What Shall be
Taxed and Where," to follow immediately after Section 12H thereof,
to read as follows:

12-I.

(a)     This section, to the exclusion of any other public general or
public local law unless this section is specifically referred to therein
and appropriately modified or repealed, controls and regulates ex-
clusively the granting of any special tax credit for unsold or un-
rented, newly-constructed single family dwellings.

(b)     The owner of an unsold or unrented, newly-constructed
single family dwelling is entitled, upon application to the governing
body of Prince George's County to receive a tax credit equal to one-
half of the property taxes imposed upon the assessed value of the
dwelling, excluding land, for the period during which the dwelling
remains unsold or unrented immediately following construction. Tax
credits hereunder shall be available only over one continuous period
of time for any dwelling and shall not apply to a dwelling which
has previously been occupied. PROVIDED, HOWEVER, THAT IM-
MEDIATELY ON OR BEFORE THE DATE OF OCCUPANCY,
AND REGARDLESS OF WHETHER THE DWELLING IS SOLD,
RENTED OR MERELY OCCUPIED, THE APPLICANT FOR A
TAX CREDIT SHALL SEND TO THE DEPARTMENT OF AS-
SESSMENT AND TAXATION FOR PRINCE GEORGE'S COUNTY
AND APPROPRIATE NOTICE THAT SAID DWELLING HAS
BEEN SOLD, RENTED OR OCCUPIED. FAILURE TO COMPLY
WITH THE PROVISIONS OF THIS SECTION SHALL RESULT
IN THE IMMEDIATE FORFEITURE OF ALL TAX CREDITS