HARRY HUGHES, Governor                             2957

IMMEDIATELY FOLLOWING CONSTRUCTION OR SUBSTANTIAL
REHABILITATION. TAX CREDITS UNDER THIS SECTION ARE
AVAILABLE ONLY OVER ONE CONTINUOUS PERIOD OF TIME FOR ANY
DWELLING, BUT NOT EXCEEDING ONE YEAR. PROVIDED, HOWEVER,
THAT IMMEDIATELY ON OR BEFORE THE DATE OF OCCUPANCY
(FOLLOWING CONSTRUCTION OR SUBSTANTIAL REHABILITATION), AND
REGARDLESS OF WHETHER THE DWELLING IS SOLD, RENTED, OR
MERELY OCCUPIED, THE APPLICANT FOR A TAX CREDIT SHALL SEND
TO THE GOVERNING BODY OF THE COUNTY OR BALTIMORE CITY 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.

(C)  THE GOVERNING BODY OF THE COUNTY OR BALTIMORE CITY
MAY DETERMINE THE AMOUNT OF THE ELIGIBILITY REQUIREMENTS,
AND APPLICATION PROCEDURES FOR THIS TAX CREDIT, IN A MANNER
CONSISTENT WITH THIS SECTION.

(D)  THE TAX CREDIT PROVIDED FOR IN THIS SECTION
APPLIES ONLY TO COUNTY AND/OR CITY TAXES. THIS SECTION MAY
NOT BE CONSTRUED OR APPLIED TO CHANGE THE NORMAL AND REGULAR
ASSESSMENT PROCEDURES.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 27, 1980.

CHAPTER 839

(Senate Bill 665)

AN ACT concerning

Baltimore City -
Property Tax Credits for New and Rehabilitated Dwellings

FOR the purpose of authorizing Baltimore City to grant
credits for property taxes for a period of time for a
certain number of newly constructed or substantially
rehabilitated unoccupied, unsold, and unrented
dwellings in the City; and providing for the procedures
for these credits.

BY adding to

Article 81 - Revenue and Taxes

Section 12G-9

Annotated Code of Maryland

(1975 Replacement Volume and 1979 Supplement)