1014

LAWS OF MARYLAND

Ch. 324

the consideration, and such other and further information as
the Director of the State Department of Assessments and
Taxation, by rule, regulation, or directive, may reasonably
require. Upon the failure of either the transferor or
transferee to comply with said notice requirements within
twenty (20) days from the date of such transfer, said
transferor and transferee shall be jointly and severally
chargeable for any taxes levied or to be levied upon any
assessment upon said tangible personal property or said
stock in business for the taxable year next following such
transfer. Any tangible personal property or stock in
business with respect to which any assessment for any
taxable year has been abated pursuant to the provisions of
this subsection may be treated as escaped property, within
the meaning of § 34 of this article, for that taxable year
for which said abatement has been made, and as such may be
assessed to the said new owner or owners thereof, regardless
of whether or not said new owner or owners also transfer
said tangible personal property or stock in business prior
to the said semiannual date of finality next following said
transfer; provided, however, that nothing in this sentence
shall apply to any tangible personal property or stock in
business removed from the State prior to the said semiannual
date of finality. In the case of a transfer of personal
property where the owner of the property has paid taxes upon
it under this subsection, the transferor is entitled to
require the transferee to adjust the amount of taxes so paid
between them.

9D.

(b)   An application for exemption shall be made on
forms prepared by the Department containing such information
as it shall designate and shall be submitted by the person,
or an officer of any corporation, claiming the exemption to
the supervisor of assessments of the county or [the
department of assessments in] Baltimore City wherein the
property is subject to taxation. A copy of each application
shall be sent to the Department for its approval or
rejection. Upon the approval of an application for
exemption of any property, the supervisor shall enter the
property on the assessment records as exempted property and
also enter it on a separate list of exempt properties. In
the case of rejection of an application, the supervisor [or
the department of assessments in Baltimore City] shall
notify the applicant of the reasons for the rejection in the
manner prescribed by § 29 of this article and of the right
to hearing and appeal as provided in §§ 255 and 256 of this
article.

(c)   The supervisors [or the department of assessments
in Baltimore City] and the Department shall periodically
review the list of exempt properties to determine whether
the property meets the requirements of the law providing for
its exemption from taxation.

9E.