MARVIN MANDEL, Governor                            1349

Annotated Code of Maryland

(1969 Replacement Volume and 1973 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 12F(c) of Article 81 - Revenue and
Taxes, of the Annotated Code of Maryland (1969
Replacement Volume and 1973 Supplement) be and it is
hereby repealed and re—enacted, with amendments, to read
as follows:

Article 81 — Revenue and Taxes

(c) There shall be allowed upon the application of
any homeowner who shall have attained the age of sixty
years for Baltimore County or sixty—five years for the
other subdivisions of the state by the July 1 which is
the first day of the taxable year for which the credit is
sought, or there may be allowed upon the application of
any homeowner who has not attained the age of sixty—five
years and who receives benefits as a result of a finding
of permanent and total disability under the Social
Security Act or under the Railroad Retirement Act, OR
UNDER ANY OTHER FEDERAL RETIREMENT SYSTEM, and whose
gross income, or whose combined gross income, as the case
may be, shall not be in excess of seven thousand dollars
($7,000) in Baltimore County or five thousand dollars
($5,000) for the other sudivisions of the State for the
calendar year immediately preceding the fiscal year of
application, a single tax credit from subdivision real
property taxes upon the dwelling for which application
for tax credit is made, which tax credit shall equal 50%
of the assessed value of such dwelling or, in Baltimore
County, five thousand dollars (5,000), and in the other
subdivisions, four thousand dollars ($4,000.00),
whichever is the lesser amount, multiplied by the
applicable subdivision tax rate. Application for tax
credit shall be as provided in § 49c of this article.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1974.

Approved April 30, 1974.

CHAPTER 296
(Senate Bill 36)
AN ACT concerning