BLAIR LEE III, Acting Governor

1685

FOR the purpose of authorizing Baltimore City to exempt
certain property from municipal taxation and to accept
payments in lieu of taxes on that property under
certain conditions; and providing for valuation and
assessment of that property; and providing that this
authorization shall expire on a certain date.

BY repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes
Section 8(7)(e)
Annotated Code of Maryland
(1975 Replacement Volume and 1977 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 81 - Revenue and Taxes

8.

The following property, except as in §§ 9, 9A, 9B, and
10 provided, shall be subject to assessment to the owner
(except shares of stock which shall be subject to assessment
to the issuing corporation) and taxation for ordinary taxes
in this State and in the county and/or city specified below:

(7) No leasehold or other limited interest in real or
tangible personal property shall be subject to taxation
except the following which shall be subject to taxation in
the same amount and the same extent as though the person in
possession or the user thereof were the owner of such
property.

(e) The interest or privilege of any lessee,
bailee, pledgee, agent or other person in possession of or
using any real or personal property which is owned by the
federal or State governments, and which is leased, loaned,
or otherwise made available to any person, firm,
corporation, association, or other legal entity, with the
privilege to use or possess such property in connection with
a business conducted for profit, except where the use is by
way of a concession for occupancy of a public airport, park,
market, or fairground, which is available to the use of the
general public, shall be subject to taxation in the same
amount and to the same extent as though the lessee or user
were the owner of such property, provided, that the
foregoing shall not apply to federal or State property for
which negotiated payments are made in lieu of taxes by any
of the aforesaid owners, nor shall it apply to any personal
property which is owned by the federal or State governments
and which is in the possession of any person, persons or
corporation pursuant to a contract with such federal or
State governments for (1) the manufacture, construction or
assembling of equipment, supplies or component parts