956                             LAWS OF MARYLAND                       CH. 516

Sec. 2. And be it further enacted, That subject to the provisions
of Section 1 herein, this Act shall take effect on July 1, 1968.

Approved May 7, 1968.                 

CHAPTER 516
(Senate Bill 177)

AN ACT to repeal Section 12D of Article 81 of the Annotated Code
of Maryland (1967 Supplement), title "Revenue and Taxes," sub-
title "What Shall Be Taxed and Where," and to enact new Sec-
tion 12D in lieu thereof to stand in the place of the section re-
pealed; and to repeal and re-enact, with amendments, Section 12F
of said Article (1967 Supplement), title, and subtitle, and Sec-
tion 49C of said Article (1967 Supplement), title, and sub-title,
"When Taxes Are Payable"; generally revising the laws relating
to allowance of county and municipal property tax credits based on
age, income, means, or value, PROVIDING THAT THE TAX
EXEMPTION BY REASON OF AGE AND INCOME IS NOT
MANDATORY IN THE SEVERAL MUNICIPAL CORPORA-
TIONS IN THIS STATE (OTHER THAN BALTIMORE CITY),
repealing existing resolutions and ordinances relating thereto,
PROVIDING IN CERTAIN COUNTIES THAT IF THE VALU-
ATION AND ASSESSMENT FOR THE PROPERTY ON WHICH
THE TAX CREDIT WAS ORIGINALLY BASED HAS IN-
CREASED THE TAX CREDIT SHALL BE CORRESPONDING-
LY INCREASED, revising the mandatory minimum tax credit as
to definition of gross income, attainment of age, limitations on
subject matter of credit, and time for application, and authoriz-
ing subdivisions to provide tax credits additional to the mandatory
credit.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 12D of Article 81 of the Annotated Code of Maryland
(1967 Supplement), be and it is hereby repealed; and new Section
12D is enacted in lieu thereof to stand in the place of the Section
repealed; and that Section 12F of said Article (1967 Supplement),
title and sub-title, be and it is hereby repealed and re-enacted with
amendments; and that Section 49C of said Article (1967 Supple-
ment), title, and subtitle, "When Taxes Are Payable," be and it
is hereby repealed and re-enacted, with amendments, and all to read
as follows:

12D.

(a) All resolutions or ordinances providing for tax credits pur-

suant to the authority of this section, enacted by any county or

municipal governing body prior to the date of passage of this act,
are hereby repealed, effective for the taxable years beginning July 1,
1968 and thereafter.

(b) (A) The governing body of every county and municipality in
this State, by resolution or ordinance enacted under its usual proce-
dure therefor, may provide for a tax credit additional to the credit