1210

LAWS OF MARYLAND

Ch. 338

PARTNERSHIP OWNER FOR PURPOSES OF A SUBSTANTIAL INFUSION OF
EQUITY, AS APPROVED BY THE UNITED STATES DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT AND BY ANY OTHER GOVERNMENTAL
CONTROLLING UNIT; AND

(III) IN WHICH THE STRUCTURES AND
FACILITIES ARE GOVERNMENTALLY CONTROLLED AS TO RENTS,
CHARGES, RATE OF RETURN, AND METHODS OF OPERATION SO AS TO
OPERATE ON A NONPROFIT OR LIMITED DISTRIBUTION BASIS.

(2)  THIS EXEMPTION BECOMES EFFECTIVE UPON THE
ENTRY OF THE BOARD OF ESTIMATES OF BALTIMORE CITY AND THE
ELIGIBLE PERSON, FIRM, OR CORPORATION INTO AN AGREEMENT FOR
THE PAYMENT OF A NEGOTIATED SUM OR SUMS IN LIEU OF ALL
BALTIMORE CITY REAL PROPERTY TAXES UPON THE PROPERTY. THE
STRUCTURE OR PROJECT MAY CONTAIN NONDWELLING COMMERCIAL AND
COMMUNITY FACILITIES, INCLUDING BUT NOT LIMITED TO DINING
HALLS, COMMUNITY ROOMS, INFIRMARIES, AND OTHER SERVICE
FACILITIES TO SERVE ITS OCCUPANTS AND THE SURROUNDING
NEIGHBORHOOD, WITHOUT AFFECTING THE POWER OF THE BOARD OF
ESTIMATES OF BALTIMORE CITY TO APPROVE THE EXEMPTION;
PROVIDED THE STRUCTURE OR PROJECT REMAINS PREDOMINANTLY
RESIDENTIAL.

(3)  THE AGREEMENT MAY PROVIDE FOR THE ABATEMENT
OR REDUCTION OF ANY BALTIMORE CITY REAL PROPERTY TAXES
LEVIED AGAINST THE PROPERTY FOR THE TAXABLE YEAR BEGINNING
JULY 1, 1976 AND FOR SUBSEQUENT TAXABLE YEARS, IF THE AGREED
PAYMENT IN LIEU OF TAXES IS MADE FOR ANY PERIOD FOR WHICH
THE TAXES ARE ABATED OR REDUCED.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1980.

Approved May 6, 1980.

CHAPTER 339

(Senate Bill 796)

AN ACT concerning

Emergency Rescue Boats - Registration Fee

FOR the purpose of exempting rescue boats that belong to
fire companies or rescue squads from certain
registration fees; and changing the registration
renewal date for emergency rescue boats.

BY repealing and reenacting, with amendments,

Article - Natural Resources
Section 8-712(c)