MARVIN MANDEL, Governor                                2551

(B)    IN HOWARD COUNTY, THE OWNER OF AN UNSOLD,
UNRENTED OR UNOCCUPIED, NEWLY CONSTRUCTED SINGLE FAMILY
DWELLING IS ENTITLED, UPON APPLICATION TO THE GOVERNING
BODY OF HOWARD COUNTY TO RECEIVE A TAX CREDIT EQUAL TO
THE PROPERTY TAXES IMPOSED UPON THE ASSESSED VALUE OF THE
DWELLING, EXCLUDING LAND, FOR THE PERIOD DURING WHICH THE
DWELLING REMAINS UNSOLD, UNRENTED OR UNOCCUPIED
IMMEDIATELY FOLLOWING CONSTRUCTION, PROVIDED, HOWEVER,
THAT NO TAX CREDIT SHALL APPLY TO ANY DWELLING USED AS AN
OFFICE OR SAMPLE HOME BY THE BUILDER. NO OWNER SHALL
RECEIVE TAX CREDITS FOR MORE THAN THREE DWELLINGS PER
YEAR UNDER THE PROVISIONS OF THIS SECTION. TAX CREDITS
HEREUNDER SHALL BE AVAILABLE ONLY OVER ONE CONTINUOUS
PERIOD OF TIME FOR ANY DWELLING NOT EXCEEDING ONE YEAR
AND SHALL NOT APPLY TO A DWELLING WHICH HAS PREVIOUSLY
BEEN OCCUPIED. HOWEVER, IMMEDIATELY ON OF 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 GOVERNING BODY OF HOWARD
COUNTY AN 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 WHICH HAVE BEEN APPLIED TO
THE DWELLING UNIT CONCERNED.

(C)    THE GOVERNING BODY OF HOWARD COUNTY MAY
FURTHER PROVIDE FOR THE PROCEDURE APPLYING TO ANY SUCH
TAX CREDIT, IN A MANNER NOT INCONSISTENT WITH THIS
SECTION.

(D)    THE TAX CREDIT PROVIDED FOR IN THIS SECTION
SHALL BE APPLICABLE TO TAXATION IN HOWARD COUNTY ONLY.
NOTHING CONTAINED IN THIS SECTION SHALL BE CONSTRUED OR
SHALL BE APPLIED TO CHANGE THE NORMAL AND REGULAR
ASSESSMENT PROCEDURES WHICH ARE APPLICABLE IN HOWARD
COUNTY, AND THE CREDIT PROVIDED HEREIN SHALL APPLY ONLY
TO COUNTY TAXES.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1974 and shall automatically
expire on June, 30, 1977, without any further action by
the General Assembly.

Approved May 31, 1974.

CHAPTER 738
(House Bill 686)
AN ACT concerning