2956

LAWS OF MARYLAND

Ch. 838

(A)  THIS SECTION, TO THE EXCLUSION OF ANY OTHER PUBLIC
GENERAL OR PUBLIC LOCAL LAW (UNLESS SPECIFIC REFERENCE IS
MADE TO THIS SECTION AND IT IS APPROPRIATELY MODIFIED OR
REPEALED), CONTROLS AND REGULATES EXCLUSIVELY THE GRANTING
OF ANY SPECIAL TAX CREDIT FOR UNSOLD OR UNRENTED, NEWLY
CONSTRUCTED OR SUBSTANTIALLY REHABILITATED SINGLE-FAMILY
DWELLINGS DWELLING UNITS.

(B) THE OWNER OF AN UNSOLD, UNRENTED, AND UNOCCUPIED,
NEWLY CONSTRUCTED SINGLE FAMILY DWELLING SHALL RECEIVE, UPON
APPLICATION TO THE GOVERNING BODY OF THE COUNTY OR BALTIMORE
CITY WHERE THE DWELLING IS LOCATED, A TAX CREDIT THE LOCAL
GOVERNING BODY OF ANY COUNTY OR BALTIMORE CITY MAY, BY
ORDINANCE OR RESOLUTION, GRANT A TAX CREDIT TO THE OWNER OF

AN UNSOLD, UNRENTED, AND UNOCCUPIED NEWLY CONSTRUCTED

SINGLE FAMILY DWELLING UPON APPLICATION TO THE LOCAL

GOVERNING BODY OF THE COUNTY OR BALTIMORE CITY WHERE THE
DWELLING IS LOCATED. THE TAX CREDIT SHALL BE EQUAL TO THE
COUNTY OR BALTIMORE CITY PROPERTY TAXES IMPOSED ON THE
ASSESSED VALUE OF THE DWELLING, EXCLUDING LAND, FOR THE
PERIOD DURING WHICH THE DWELLING REMAINS UNSOLD, UNRENTED,
AND UNOCCUPIED IMMEDIATELY FOLLOWING CONSTRUCTION. THIS TAX
CREDIT DOES NOT APPLY TO ANY DWELLING USED AS AN OFFICE OR
SAMPLE HOME BY THE BUILDER. AN OWNER MAY NOT RECEIVE TAX
CREDITS FOR MORE THAN THREE DWELLINGS PER YEAR UNDER THE
PROVISIONS OF THIS SECTION. TAX CREDITS ARE AVAILABLE ONLY
OVER ONE CONTINUOUS PERIOD OF TIME FOR ANY DWELLING, BUT NOT
EXCEEDING 1 YEAR; AND DO NOT APPLY TO A DWELLING WHICH HAS
PREVIOUSLY BEEN OCCUPIED.

(C) IMMEDIATELY ON OR BEFORE THE DATE OF OCCUPANCY,
AND REGARDLESS OF WHETHER THE DWELLING IS SOLD, RENTED, OR
MERELY OCCUPIED, THE APPLICANT FOR A TAX CREDIT SHALL SEND
TO THE GOVERNING BODY AN APPROPRIATE NOTICE THAT THE
DWELLING HAS BEEN SOLD, RENTED, OR OCCUPIED. FAILURE TO
COMPLY WITH THE PROVISIONS OF THIS SECTION SHALL RESULT IN
THE IMMEDIATE FORFEITURE OF ALL TAX CREDITS WHICH HAVE BEEN
APPLIED TO THE DWELLING UNIT CONCERNED.

(D) THE GOVERNING BODY OF THE COUNTY OR BALTIMORE CITY
MAY PROVIDE FOR PROCEDURES APPLYING TO THE TAX CREDIT, IN A
MANNER CONSISTENT WITH THIS SECTION.

(E) THIS SECTION MAY NOT BE CONSTRUED OR APPLIED TO
CHANGE THE NORMAL AND REGULAR ASSESSMENT PROCEDURES WHICH
ARE APPLICABLE IN THIS STATE, AND THE CREDIT PROVIDED BY
THIS SECTION APPLIES ONLY TO COUNTY OR BALTIMORE CITY TAXES.

(B)  THE OWNER OF AN UNSOLD OR UNRENTED, NEWLY
CONSTRUCTED OR SUBSTANTIALLY REHABILITATED SINGLE DWELLING
UNIT MAY BE ENTITLED, UPON APPLICATION TO, AND AT THE
DISCRETION OF, THE GOVERNING BODY OF THE COUNTY OR BALTIMORE
CITY WHERE THE DWELLING IS LOCATED, TO RECEIVE A TAX CREDIT
OF NOT MORE THAN THE PROPERTY TAXES IMPOSED UPON THE
ASSESSED VALUE OF THE DWELLING, EXCLUDING LAND, FOR THE
PERIOD DURING WHICH THE DWELLING REMAINS UNSOLD OR UNRENTED