2796

COUNTY LOCAL LAWS

effect on July 1, 1972.

APPROVED AND ENACTED: June 5, 1972.

BILL NO. 43-72

TAX RESOLUTION to defer the partial exemption from
personal property tax on raw materials and
manufactured products for the taxable year
beginning July 1, 1972, by repealing and
re—enacting with amendments Section 11—38(a) of
the Baltimore County Code, 1968 (1970 Cumulative
Supplement) .

SECTION 1. BE IT RESOLVED BY THE COUNTY COUNCIL
OF BALTIMORE COUNTY, MARYLAND, that Section 11-38 (a)
of the Baltimore County Code, 1968 (1970 Cumulative
Supplement) , be and it is hereby repealed and
re—enacted with amendments to read as follows:

Section 11-38. Manufacturer's tax exemption.

(a) Raw materials on hand and manufactured
products in the hands of the manufacturer in Baltimore
County be and they are hereby exempt from county
taxation in the amount of 55 percent of the total
assessed valuation for the taxable year beginning July
1, 1968, and each taxable year thereafter, except that
said exemption shall not be increased during the
taxable years beginning July 1, 1970, [and] July 1,
1971 AND JULY 1, 1972, the exemption shall increase 15
percentum until an exemption of 100 percent is
reached; so that in the taxable year beginning July 1,
197[3]4 said property will be entirely exempt from
county taxation.

SECTION 2. AND BE IT FURTHER RESOLVED, That this
Resolution shall take effect forty—five days after its
enactment.

APPROVED AND ENACTED: June 5, 1972.