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MARVIN MANDEL, Governor 281
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TO THE INTERNATIONAL TRADE CENTER DESCRIBED IN
§6-101(D)(4) OF THIS TITLE, WHICH TRADE CENTER IS EXEMPT
FROM ALL ORDINARY TAXES AND BENEFIT ASSESSMENTS TO THE
ADMINISTRATION.
(C) AGREEMENTS FOR PAYMENTS IN PLACE OF TAX.
THE ADMINISTRATION AND THE COUNTY MAY MAKE ANY
AGREEMENTS:
(1) FOR THE ADMINISTRATION TO PAY TO THE
COUNTY A STATED SUM IN PLACE OF ANY TAXES OR BENEFIT
ASSESSMENTS TO WHICH THE ADMINISTRATION IS SUBJECT; OR
(2) FOR VOLUNTARY CONTRIBUTIONS AS TO
TAX-EXEMPT PROPERTY.
(D) LESSEE REQUIRED TO PAY SUM FOR TAXES TO
ADMINISTRATION.
(1) EACH LEASE OF A CARGO HANDLING FACILITY
FOR A TERM OF MORE THAN 1 YEAR, INCLUDING RENEWAL
OPTIONS, THAT IS MADE BETWEEN THE ADMINISTRATION AND A
LESSEE ENGAGED IN BUSINESS FOR PROFIT SHALL CONTAIN A
PROVISION REQUIRING THE LESSEE TO PAY TO THE
ADMINISTRATION ANNUALLY, EXCEPT TO THE EXTENT THAT THE
IMPROVEMENTS ARE TAXED TO THE LESSEE, A SUM OF MONEY
COMPUTED ON THE BASIS OF THE FULL CASH VALUE OF THE
LEASED LAND AND IMPROVEMENTS ON IT, LESS THE ALLOWANCE
FOR INFLATION PROVIDED FOR IN ARTICLE 81, §14(B) OF THE
CODE, MULTIPLIED BY THE CURRENT STATE AND LOCAL REAL
ESTATE TAX RATES.
(2) THE SUPERVISOR OF ASSESSMENTS OF THE
COUNTY IN WHICH THE LEASED LAND IS LOCATED SHALL
COOPERATE WITH THE ADMINISTRATION IN ESTABLISHING THE
FULL CASH VALUE OF THE LEASED LAND AND IMPROVEMENTS ON
IT.
(E) PRIOR CONSENT REQUIRED FOR LEASE-BACKS.
THE ADMINISTRATION MAY NOT ACQUIRE ON A LEASE-BACK
BASIS ANY LAND OR IMPROVEMENT ON IT WITHOUT THE PRIOR
CONSENT OF THE POLITICAL SUBDIVISION IN WHICH THE LAND
OR IMPROVEMENTS ARE LOCATED.
(F) EXISTING AGREEMENTS NOT AFFECTED.
THIS SECTION DOES NOT AFFECT ANY AGREEMENT MADE
BEFORE JUNE 1, 1966, BETWEEN THE ADMINISTRATION AND ANY
COUNTY AS TO TAX EXEMPTIONS OR PAYMENTS IN PLACE OF
TAXES OR BENEFIT ASSESSMENTS.
REVISOR'S NOTE: This section presently appears as
Art. 62B, §18(b).
In subsection (a) of this section, the phrase
"useful or designed for use" is substituted
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