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2408
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Ch. 530
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LAWS OF MARYLAND
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(a) It is the intention of the General Assembly in
adopting the provisions of this section that all elderly
or disabled taxpayers, who received a tax credit under
the provisions of any law, which was in effect for the
1974—1975 taxable year and which has been subsequently
repealed, shall continue to receive in the 1975-1976 and
subsequent taxable years the benefits of these repealed
laws. It is the further intention of the General
Assembly in adopting the program authorized by § 12F-1 of
this article to continue the fullest extent of all of the
benefits of these repealed laws as a part of the § 12F—1
[program. In]PROGRAM, IN order not to cause a financial
loss to any taxpayers who might receive lesser benefits
under § 12F-1 than they received under the repealed laws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for the benefits granted by the repealed laws.
32B.
(b) (1) For the taxable years 1976-1977,
1977-1978, and 1978-1979, each county, Baltimore City, or
other incorporated municipality levying a tax on real
property shall grant a [homeowners]HOMEOWNERS' tax credit
in accordance with this subsection against the property
taxes imposed by the county, city, or incorporated
municipality on dwellings. The word "dwelling" has the
meaning stated in § 12F—1 (4) of this article, except
that it applies to all homeowners, whether or not they
are 60 years of age or older.
(2) In addition to any other information
required, the tax bill for the taxable year 1976-1977 for
dwellings subject to the provisions of this subsection
shall state:
(i) The assessment for the taxable year
[1975-1976;] 1975-1976;
(ii) The assessment for the taxable year
1976-1977;
(iii) The total amount of tax due, based
upon the assessment for the taxable year 1976-1977;
(iv) The amount of credit granted by
this subsection for the taxable year 1976-1977; and
(v) The net amount of tax due in the
taxable year 1976—1977 after applying the amount of the
credit.
The tax bill for the 1977-1978 taxable year shall
state the amount of the credit applicable in that taxable
year, which shall be deducted from the amount of taxes
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