2186

LAWS OF MARYLAND

Ch. 791

facility but not including prepaid expenses.

(d) Such eligible displacees who
decide to rent a replacement facility — an amount equal
to 50[%] PERCENT of the actual annual base rental for the
replacement facility, or in the event the new facility is
not comparable to the facility from which the business
was displaced, an amount equal to 50 [%] PERCENT of the
excess of the current annual base rental for a comparable
business facility, whichever is the lesser, over the
current annual calculated base rental for the property
from which the displacement occurred computed for the
term of the lease of the replacement facility including
any renewals thereof not to exceed a five year period.
Payments shall be made annually conditioned upon the
displacee continuing as lessee. A tenancy at will
without the execution of any written lease will be
calculated as a one year lease.

(2) In the event the displacee rents the
business facility from which he is displaced, he shall be
entitled to a payment calculated as follows:

(a)    Such displacees who decide to
purchase, construct, or renovate a replacement facility —
an amount equal to 5 times 50[%] PERCENT of the excess of
either the annual calculated base rental for the new
business facility or in the event the replacement
facility is not comparable to the facility from which the
business was displaced, the current annual calculated
base rental for a comparable business facility, whichever
is the lesser, over the annual base rental for the
property from which displacement occurred.

(b)    Such displacees who decide to rent
a replacement facility — an amount equal to 50[%] PERCENT
of the excess of the annual base rental for the new
business facility or in the event the new facility is not
comparable to the facility from which the business was
displaced, the current annual base rental for a
comparable business facility, whichever is the lesser,
over the base rental for the property from which the
displacement occurred calculated on the term of the lease
for the replacement facility or any renewals thereof not
to exceed a five year period. A tenancy at will without
the execution of any written lease will be calculated as
a one year lease.

c.    The department is authorized to promulgate
such rules and regulations as may be necessary to
implement the provisions of the foregoing section,
provided that such regulations are first approved by the
Board of Estimates of Baltimore City.

d.    [No] payment received under this section is
NOT to be considered as income for the purposes of the
income tax provisions of Article 81 or for the purpose of
determining the eligibility or extent of eligibility of