828

LAWS OF MARYLAND

Ch. 215

credit shall be calculated pursuant to the provisions of

subsection (c) of this section, except that the credit

granted in this section shall be 50 percent of the full
credit as calculated in (c).

(e)] When a homeowner sells a dwelling which is
subject to a property tax credit, the credit shall be
terminated as of the date of transfer of the property. The
total amount of the credit shall be included in the amount
of ordinary taxes which were paid by the homeowner and which
are adjusted at the time of settlement between the homeowner
and the purchaser. The homeowner shall be charged only for
that proportion of the credit which the homeowner's period
of ownership of the property during the taxable year in
which the transfer occurs bears to the entire taxable year.
The remaining portion of the credit shall be paid by the
purchaser to the county or Baltimore City and credited to
the State, less any deductions for the costs incurred by any
county, Baltimore City or municipality under the provisions
of § 12F-2 of this article.

[(f)] (E) The homeowner may apply for the tax credit
no later than September 1 of the taxable year in which the
tax credit is sought on a standard form to be provided by
the Department. If the application has not been made on or
before the date specified, the tax credit may not be
allowed, except that the [supervisor of assessments]
DEPARTMENT may, upon good cause shown, accept any
application submitted after September 1 but not later than
September 30. Upon making a final determination whether to
accept or reject a late application, the [supervisor of
assessments] DEPARTMENT shall notify the homeowner, in
writing, of the decision.

[(g)] (F) The application for the tax credit shall be
made under oath or affirmation that the matters and facts
stated in the application are true to the best of the
applicant's knowledge, information, and belief. The
applicant may be required to provide copies of income tax
returns, or other evidence of income, interest, dividends,
rents, money paid or received, or net worth to substantiate
the application for the property tax credit.

[(h)] (G) (1) A [full credit] homeowner [, as defined
in subsection (a)(6) of this section,] shall submit the
application to the [supervisor of assessments in the county
or Baltimore City in which he resides] DEPARTMENT. Upon
determination of eligibility, the Department shall have
prepared whenever possible by the county or Baltimore City
official a tax bill that reflects the final tax liability
after allowing the credit for which provision is made by
this section. Whenever a homeowner is found eligible for
the tax credit and receives a tax bill that does not reflect
the final tax liability of the taxpayer after allowing for
the tax credit for which provision is made by this section,
the Department shall have the county or Baltimore City
official prepare a revised tax bill or IT SHALL PREPARE A