5375
MONTGOMERY COUNTY

income from all sources from the sum of $14,000.00. The
remainder shall be multiplied by the County tax rate,
County school tax rate and applicable special area tax
rate, and the product shall be the tax credit.

(b)    Until the tax year beginning July 1, 1978, in
the event a homeowner qualifies for a tax credit under
this Section 52—11 on all requirements except income, and
that homeowner received a local tax credit under County
law for the taxable year 1972 - July 1, 1972 to June 30,
1973, the homeowner shall be eligible for a tax credit
not less than the credit received for taxable year 1972;
provided however that such homeowner shall be eligible to
receive the tax credit until the taxable year 1977 —
ending June 30, 1978, if the income or combined income of
the homeowner remains within the eligibility limits for
the taxable year 1972. In no event shall any homeowner
receive a tax credit less than that to which such
homeowner would be entitled under provisions of Section
12F and 12D(a), Article 81, Annotated Code of Maryland.

(c)    Upon the death of an eligible homeowner who at
the time of his death was eligible to receive a tax
credit, such credit shall be allowable to the otherwise
ineligible surviving spouse for only the remainder of
that taxable year and for the taxable year next
following; provided, however, that the spouse shall
satisfy those criteria set forth in paragraphs 2 and 3 of
subsection (a), in order to be eligible for the taxable
year next following the death of the taxpayer.

(d)    1. Notwithstanding the total income or
combined total income limit of paragraph 3 of subsection
(a), a homeowner whose total income or combined total
income for the immediate preceding calendar year is in
excess of $10,000 shall be entitled to a tax credit as
defined above, but such credit shall be reduced by
twenty—five percentum (25%) of the excess of such income
above $10,000.

2.     No dwelling shall be deemed a principal
residence which is not actually occupied or expected to
be actually occupied by such homeowner or homeowners for
more than six months of a twelve month period including
the date of application for credit. A homeowner or
homeowners may claim credit on only one such dwelling.
The Director of Finance may qualify a homeowner otherwise
eligible for the tax credit if the homeowner does not
actually reside in the dwelling the required time period
for reason of illness or need of special care.

3.     When any property receiving a tax credit
under this section is sold to a purchaser, the tax credit
shall be terminated as of the date of transfer of the