1728

LAWS OF MARYLAND

Ch. 529

5-302.

The owner of any tract of land in the state which
comprises 5 or more contiguous acres, by agreement with the
department, may contract to place the tract within the
program of forest conservation and management, [for a period
of time and] under circumstances and conditions provided in
the program and required by this subtitle. EXCEPT FOR THOSE
CONTRACTS ENTERED INTO BEFORE JULY 1, 1978, 10 YEARS SHALL
BE THE MINIMUM LENGTH OF CONTRACT.

5-304.

At the end of the period covered by the contract IF
LESS THAN 15 YEARS, at the time all or part of the timber is
harvested UNLESS HARVESTED ACCORDING TO THE PLAN DEVELOPED
BY THE DEPARTMENT, or all or part of the tract is conveyed
to a nek owner, [whichever is earliest,] there shall be a
new valuation of all or part of the tract. If only a part
of the tract is conveyed or if only a part of the timber is
harvested, the new valuation for purposes of assessment
shall be only that part of the tract. CONSECUTIVE CONTRACTS
SHALL BE DEEMED ONE CONTRACT FROM THE DATE OF THE ORIGINAL
CONTRACT.

SECTION 2. AND BE IT FURTHER ENACTED, That Section(s)
5-305 through 5—308, respectively, of Article — Natural
Resources, of the Annotated Code of Maryland be renumbered
to be Section(s) 5—306 through 5—309, respectively.

SECTION 3. AND BE IT FURTHER ENACTED, That section(s)
of the Annotated Code of Maryland be repealed, amended, or
enacted to read as follows:

Article — Natural Resources

5-305.

(A)    IF THE TRACT OF LAND OR ANY PORTION THEREOF IS
PLACED OUTSIDE THE PROGRAM OF FOREST CONSERVATION AND
MANAGEMENT BY EMINENT DOMAIN OR OTHER INVOLUNTARY
PROCEEDING, THE TRACT OR ANY PORTION THEREOF MAY NOT BE
SUBJECT TO ANY ROLLBACK OR PENALTY TAX.

(B)    WHEN ONLY A PORTION OF THE TRACT OF LAND IS
PLACED OUTSIDE THE PROGRAM, THE ASSESSOR SHALL APPORTION THE
ASSESSMENT AND ENTER THE CONVERTED PORTION AS A SEPARATELY
ASSESSED PARCEL ON THE ASSESSMENT ROLL. THE ASSESSOR SHALL
ADJUST THE ASSESSMENT OF THE PORTION OF THE TRACT OF LAND
THAT IS STILL WITHIN THE PROGRAM OF FOREST CONSERVATION AND
MANAGEMENT TO REFLECT THE CHANGE.

5-310.

A        MEMORANDUM OF THE CONTRACT AGREEMENT SHALL BE

RECORDED IN EACH COUNTY WHERE THE LAND IS LOCATED UNDER §§
3-102 AND 3-103 OF THE REAL PROPERTY ARTICLE. THE RECORDING