2242

LAWS OF MARYLAND

Ch. 548

MUNICIPALITY, 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 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,
MUNICIPALITY, 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, MUNICIPALITY, 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, MUNICIPALITY, and/or city taxes.
This section may not be construed or applied to change the
normal and regular assessment procedures.]

12G-1.

(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REPEALED), CONTROLS AND REGULATES EXCLUSIVELY THE GRANTING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, EXCEPT AS SET FORTH IN SECTION
126-9 OF THIS ARTICLE.

(B) THE OWNER OF AN UNSOLD, UNRENTED, AND UNOCCUPIED,
NEWLY CONSTRUCTED SINGLE FAMILY DWELLING MAY RECEIVE, UPON
APPLICATION TO THE GOVERNING BODY OF THE COUNTY, BALTIMORE
CITY, OR MUNICIPALITY WHERE THE DWELLING IS LOCATED, A TAX
CREDIT 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 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
DWELLING 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.