5265
MONTGOMERY COUNTY

COUNTY, MARYLAND, that

Sec. 1. A new subsection (g) is hereby added to
Section 52—21, title "Levied; amount", Chapter 52, title
"Finance and Taxation", of the Montgomery County Code
1972, to follow immediately after subsection (f) thereof
and to read as follows:

55—21. Levied; amount.

(g) In the event that land upon which a transfer
tax has been paid on or after July 1, 1972, pursuant to
subsection (d) of this section, becomes subject on or
after July 1, 1972, and within three (3) years of payment
of the transfer tax, to the development tax imposed by
Section 19(b)(2)(B) Article 81, Annotated Code of
Maryland, 1972 Cumulative Supplement, the taxpayer who
most recently paid the transfer taxes, or the taxpayer's
agent, assignee, successor, heir or personal
representative, upon application, shall be entitled to a
refund of a portion of the transfer tax actually paid to
Montgomery County on the same property. The refund shall
not exceed the amount of the tax paid pursuant to Section
19(b) (2) (B) of Article 81 which is actually received and
retained by the County for the general fund, for the
Board of Education, for the Suburban District, and for
the Recreation District. Provided further, that the
refund shall not exceed the amount by which the transfer
tax on the same land exceeded one percent (1%) of the
value of the consideration received for the sale of the
land at the time of payment of the transfer tax. In cases
where the land upon which a county transfer tax has been
paid is greater in area than land which is subject to tax
pursuant to Section 19(b)(2)(B) of Article 81, Annotated
Code of Maryland, the amount of the refund shall be equal
to the amount of tax paid pursuant to Section 19(b) (2) (B)
of Article 81 which is retained by the County for the
general fund, for the Board of Education, for the
Suburban District and for the Recreation District, but
shall not exceed that portion of the most recent transfer
tax paid pursuant to subsection (d) of this section which
exceeded one percent (1%) of the total consideration on
the entire tract. In cases where more than one refund is
payable, due to subdivision and sales of portions of a
tract on which a transfer tax was paid under subsection
(d) of this section, the aggregate of refunds shall not
exceed the difference between the transfer tax on the
whole tract and 1% of the consideration paid on said
tract. The Director of Finance may from time to time
issue written regulations to effectuate the purposes of
this subsection.

Sec. 2. Severability.