MARVIN MANDEL,

Governor

2283

SUBSEQUENT TAXABLE YEARS THE BENEFITS OF THESE REPEALED
LAWS.         IT IS THE FURTHER INTENTION OF THE GENERAL

ASSEMBLY IN ADOPTING THE PROGRAM AUTHORIZED BY SECTION
12F-1 OF THIS ARTICLE TO CONTINUE THE FULLEST EXTENT OF
ALL OF THE BENEFITS OF THESE REPEALED LAWS AS A PART OF
THE SECTION 12F-1 PROGRAM.        IN ORDER NOT TO CAUSE A

FINANCIAL LOSS TO ANY TAXPAYERS WHO MIGHT RECEIVE LESSER
BENEFITS UNDER SECTION 12F-1 THAN THEY RECEIVED UNDER THE
REPEALED LAWS IN EFFECT FOR THE 1974-1975 TAXABLE YEAR,
PROVIDED THE TAXPAYER CONTINUES TO HAVE A LEGAL INTEREST
IN THE DWELLING FOR WHICH THE CREDITS WERE GRANTED IN THE
1974-1975 TAXABLE YEAR AND THE TAXPAYER REMAINS QUALIFIED
FOR THE BENEFITS GRANTED BY THE REPEALED LAWS.

(B)          AS USED IN SUBSECTION (A) OF THIS SECTION, THE
TERM "FULLEST EXTENT OF ALL OF THE BENEFITS" MEANS THAT A
TAXPAYER, WHO RECEIVED ANY BENEFITS UNDER THE PROVISIONS
OF ANY LAW GOVERNING THE GRANTING OF TAX CREDITS FOR
ELDERLY OR DISABLED PERSONS IN THE TAXABLE YEAR 1974-1975
AND WHO REMAINS QUALIFIED FOR BENEFITS UNDER THESE LAWS
SHALL HAVE HIS PROPERTY TAXES CALCULATED IN THE 1975-1976
TAXABLE YEAR AND IN ANY SUBSEQUENT TAXABLE YEAR BOTH
UNDER THE LAWS IN EFFECT IN THE 1974-1975 TAXABLE YEAR
AND UNDER THE PROVISIONS OF SECTION 12F-1 OR SECTION
12F-3 (WHICH WAS IN EFFECT FOR THE 1975-1976 TAXABLE
YEAR), OF THIS ARTICLE, WHICHEVER IS APPLICABLE. THE
TAXPAYER SHALL RECEIVE BENEFITS UNDER THAT LAW WHICH
PROVIDES THE GREATER AMOUNT OF BENEFITS TO THE TAXPAYER.

(C)         IT IS THE FURTHER INTENTION OF THE GENERAL
ASSEMBLY THAT ALL DISABLED TAXPAYERS WHO RECEIVED A TAX
CREDIT UNDER THE PROVISIONS OF SECTION 12F-3 OF THIS
ARTICLE OR ANY OTHER LAW, WHICH WAS IN EFFECT FOR THE
1975-1976 TAXABLE YEAR AND WHICH HAS BEEN SUBSEQUENTLY
REPEALED, SHALL CONTINUE TO RECEIVE IN THE 1976-1977 AND
SUBSEQUENT TAXABLE YEARS THE BENEFITS OF THESE REPEALED
LAWS. THE GENERAL ASSEMBLY IN ADOPTING THE PROGRAM
AUTHORIZED BY SECTION 12F-1 OF THIS ARTICLE INTENDED TO
CONTINUE THE FULLEST EXTENT OF ALL OF THE BENEFITS OF
THESE REPEALED LAWS AS A PART OF THE SECTION 12F-1
PROGRAM, IN ORDER NOT TO CAUSE A FINANCIAL LOSS TO ANY
TAXPAYERS WHO MIGHT RECEIVE LESSER BENEFITS UNDER SECTION
12F-1 THAN THEY RECEIVED UNDER THE REPEALED LAWS IN
EFFECT FOR THE 1975-1976 TAXABLE YEAR, PROVIDED THE
TAXPAYER CONTINUES TO HAVE A LEGAL INTEREST IN THE
DWELLING FOR WHICH THE CREDITS WERE GRANTED IN THE
1975-1976 TAXABLE YEAR AND THE TAXPAYER REMAINS QUALIFIED
FOR THE BENEFITS GRANTED BY THE REPEALED LAWS.

(D)          AS USED IN SUBSECTION (C) OF THIS SECTION, THE
TERM "FULLEST EXTENT OF ALL OF THE BENEFITS" MEANS THAT A
TAXPAYER, WHO RECEIVED ANY BENEFITS UNDER THE PROVISIONS
OF SECTION 12F-3 OF THIS ARTICLE OR ANY OTHER LAW
GOVERNING THE GRANTING OF TAX CREDITS FOR DISABLED
PERSONS IN THE TAXABLE YEAR 1975-1976 AND WHO REMAINS
QUALIFIED FOR BENEFITS UNDER THESE LAWS SHALL HAVE HIS
PROPERTY TAXES CALCULATED IN THE 1976-1977 TAXABLE YEAR
AND IN ANY SUBSEQUENT TAXABLE YEAR BOTH UNDER THE LAWS IN