3132

LAWS OF MARYLAND

Ch. 858

Section 12F-7(d)(6) and (e)(6), respectively

to be Section 12F-7(d)(7) and (e)(7), respectively

Annotated Code of Maryland

(1975 Replacement Volume and 1979 Supplement)

BY repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes

Section 12F-7(a)

Annotated Code of Maryland

(1975 Replacement Volume and 1979 Supplement)

BY adding to

Article 81 - Revenue and Taxes

Section 12F-7(d)(6) and (e)(6)

Annotated Code of Maryland

(1975 Replacement Volume and 1979 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section(s) 12F-7(d)(6) and (e)(6),
respectively, of Article 81 - Revenue and Taxes, of the
Annotated Code of Maryland be renumbered to be Section(s)
12F-7(d)(7) and (e)(7), respectively.

SECTION 2. AND BE IT FURTHER ENACTED, That section(s)
of the Annotated Code of Maryland be repealed, amended, or
enacted to read as follows:

Article 81 - Revenue and Taxes

12F-7.

(a) For the taxable years 1977-1978, 1978-1979,
1979-1980, 1980-1981, [and] 1981-1982, AND 1982-1983, each
county, Baltimore City and any incorporated municipality
shall grant a homeowners' tax credit in accordance with this
section against the county, Baltimore City or municipal
property taxes imposed by that jurisdiction on real
property.

(d) (6) THE FOLLOWING DETERMINATIONS SHALL BE MADE FOR
THE 1982-1983 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, 1982;

(II)  THE AMOUNT OF THE ASSESSMENT AS OF
JANUARY 1, 1981;

(III)  THE ADJUSTED 1976 ASSESSMENT WHICH
IS THE PRODUCT OF THE AMOUNT OF THE ASSESSMENT AS OF JANUARY
1, 1976 MULTIPLIED BY 201 PERCENT;