2630                                 LAWS OF MARYLAND                               Ch. 763

(ii) The amount of the assessment as of
January 1, 1979;

(iii) The adjusted 1976 assessment which
is the product of the amount of the assessment as of January
1, 1976 multiplied by 153 percent;

(IV) THE PRIOR YEAR ADJUSTED ASSESSMENT
WHICH IS THE AMOUNT DETERMINED IN SUBPARAGRAPH (E)(3)(II) OR
THE AMOUNT DETERMINED IN SUBPARAGRAPH (K)(1)(VI), WHICHEVER
IS LESS.

(5) The following determinations shall be made
for the 1981-1982 taxable year to calculate the amount of
the credit provided in subsection (e) of this section:

(i) The amount of the assessment of the
dwelling as of January 1, 1981;

(ii) The amount of the assessment as of
January 1, 1980;

(iii) The adjusted 1976 assessment which
is the product of the amount of the assessment as of January
1, 1976 multiplied by 175 percent;

(IV) THE PRIOR YEAR ADJUSTED ASSESSMENT
WHICH IS THE AMOUNT DETERMINED IN (E)(4)(II).

(e) (4) For the 1980-1981 taxable year only, the
credit shall be calculated by.

(i) Comparing the 1979 actual assessment
[with], the adjusted 1976 assessment, AND THE PRIOR YEAR
ADJUSTED ASSESSMENT, as determined in subsection (d)(4) of
this section, and selecting the lesser LEAST of the [two]
THREE amounts;

(ii) Multiplying the lesser LEAST of the
[two] THREE amounts by 115 percent;

(iii) Subtracting this product from the
1980 actual assessment;

(iv) Multiplying this difference, provided
it is a positive number, by the applicable county, Baltimore
City, or municipal tax rate for this year. The amount
determined in step (iv) of this paragraph [(5)] shall be the
amount of the tax credit for the 1980-1981 taxable year.

(5) For the 1981-1982 taxable year only, the
credit shall be calculated by:

(i) Comparing the 1980 actual assessment
[with], the adjusted 1976 assessment, AND THE PRIOR YEAR
ADJUSTED ASSESSMENT, as determined in subsection (d)[(4)]
(5) of this section, and selecting the lesser LEAST of the
[two] THREE amounts;