HARRY HUGHES, Governor                               1925

to take effect of Chapter of the Acts of 1981 (House
Bill 960) (llr0209), and if Chapter takes effect, this
Act shall be null and void without the necessity of further
action by the General Assembly.

Approved May 12, 1981.

CHAPTER 474

(House Bill 1718)

AN ACT concerning

Montgomery County - Property Tax Credits
MC 215-81

FOR the purpose of providing that Montgomery County as to
county taxation may, by law, allow a tax credit for
real property in Montgomery County owned by Bannockburn
Cooperators, Inc. which is leased to Bannockburn
Community Club for certain purposes.

BY repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes

Section 9C(k-l)

Annotated Code of Maryland

(1975 Replacement Volume and 1980 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 81 - Revenue and Taxes

9C.

(k-1) In Montgomery County, (1) personal property
owned by any nonprofit, nonstock cooperative housing
corporations; (2) the county governing body as to county
taxation, and the governing body of a municipality as to
taxation of that municipality, may by law allow a tax credit
for real property upon which a structure or project is
constructed or substantially rehabilitated pursuant to § 8
of the United States Housing Act of 1937, as amended,
primarily for occupancy by elderly persons, and receives
rent subsidy and is controlled under that program so as to
operate either on a nonprofit basis or on a limited dividend
distribution basis; (3) leased real property and
improvements in Montgomery County used exclusively as a
theatre by nonprofit community theatrical organizations
which have no paid officers, directors or employees, other
than clerical or maintenance employees, if the payment to