HARRY HUGHES, Governor

1209

Baltimore City - Property Tax Exemptions -
Limited Distribution Housing

FOR the purpose of allowing Baltimore City to exempt certain
housing projects from local real property taxes
pursuant to certain agreements; permitting Baltimore
City to abate or reduce certain local real property
taxes; and presenting certain material for
informational purposes.

BY repealing and reenacting, without amendments,

Article 81 - Revenue and Taxes

Section 9(a)

Annotated Code of Maryland

(1975 Replacement Volume and 1979 Supplement)

BY adding to

Article 81 - Revenue and Taxes

Section 9(n-2)

Annotated Code of Maryland

(1975 Replacement Volume and 1979 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be repealed, amended, or enacted to read as follows: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

9.

(a) The following real and tangible personal property
shall be exempt from assessment and from State, county and
city ordinary taxation, except as otherwise stated herein,
each and all of which exemptions shall be strictly
construed:

(N-2) (1) FROM BALTIMORE CITY PROPERTY TAXATION ONLY,
REAL PROPERTY:

(I)  WHICH HAD BEEN EXEMPTED UNDER AN
AGREEMENT, IN EFFECT ON OR AFTER JULY 1, 1976, BETWEEN A
NONPROFIT HOUSING CORPORATION (OR ENTITY) OWNER AND THE
MAYOR AND CITY COUNCIL OF BALTIMORE FOR THE PAYMENT OF A
NEGOTIATED SUM OR SUMS IN LIEU OF LOCAL PROPERTY TAXES OR
LOCAL AND STATE PROPERTY TAXES, AS PROVIDED BY SUBSECTIONS
(N) OR (N-l) OF THIS SECTION, OR SECTION 22 OF ARTICLE 44A
AND THE EXPRESS TERMS OF AN APPROVED URBAN RENEWAL LAND
DISPOSITION AGREEMENT; AND

(II)  WHICH HAS BEEN TRANSFERRED TO A
LIMITED DISTRIBUTION PARTNERSHIP OWNER OR THE EQUITABLE
OWNERSHIP HAS BEEN CONVERTED TO A LIMITED DISTRIBUTION