2942                                    LAWS OF MARYLAND                                 Ch. 789

(A)  "URBAN ENTERPRISE ZONE" MEANS AN AREA THAT HAS
BEEN OFFICIALLY DESIGNATED AN URBAN ENTERPRISE ZONE BY THE
FEDERAL GOVERNMENT PRIOR TO JULY 1, 1982.

(B)  ANY BUSINESS THAT LOCATES IN AN URBAN ENTERPRISE
ZONE MAY BE ELIGIBLE, AS DETERMINED BY THE LOCAL GOVERNMENTS
WITH THE APPROVAL OF THE GOVERNOR, TO RECEIVE REDUCTIONS IN
WORKMEN'S COMPENSATION PREMIUMS, UNDER SECTION 74 OF ARTICLE
101, EXEMPTION FROM INCOME TAX UNDER SECTION 288(D)(10) OF
ARTICLE 81, AND REDUCTIONS IN UNEMPLOYMENT INSURANCE FUND
CONTRIBUTIONS UNDER SECTION 8(B)(2) OF ARTICLE 95A OF THE
CODE, PROVIDED IT MEETS THE ELIGIBILITY STANDARDS FOR
EMPLOYMENT OF RESIDENTS OF THE URBAN ENTERPRISE ZONE OR THE
SUBDIVISION ESTABLISHED BY THE FEDERAL GOVERNMENT.

Article 81 - Revenue and Taxes

9.

(a) The following real and tangible personal property
are exempt from assessment and from State, county, and city

ordinary taxation, except as otherwise stated, which

exemptions shall be strictly construed.

(S) PROPERTY USED BY AN EMPLOYER QUALIFYING FOR THE

BENEFITS OF ARTICLE 41, § 266KK (RELATING TO URBAN

ENTERPRISE ZONES) AND LOCATED IN AN URBAN ENTERPRISE ZONE.

288.

(d) The following shall not be liable for the tax
imposed by this section:

(10) TO THE EXTENT OF 3 TIMES THE AMOUNT OF
WAGES FOR WHICH AN EMPLOYER QUALIFIES FOR REDUCTION IN
WORKMEN'S COMPENSATION PREMIUMS AND UNEMPLOYMENT INSURANCE
FUND CONTRIBUTIONS UNDER § 266KK(B) OF ARTICLE 41 (RELATING
TO URBAN ENTERPRISE ZONES), INCOME DERIVED FROM THE CONDUCT
OF A TRADE OR BUSINESS IN AN URBAN ENTERPRISE' ZONE.

Article 95A - Unemployment Insurance Law

8.

(b) (1) Each employer shall pay contributions equal to
two and seven-tenths per centum of wages paid with respect
to employment except as hereinafter provided.

(2) AN EMPLOYER WHO MEETS THE REQUIREMENT OF
SECTION 266KK OF ARTICLE 41 OF THE CODE SHALL PAY
CONTRIBUTIONS OF 2 PERCENT OF WAGES PAID WITH RESPECT TO
EMPLOYEES WHO ARE RESIDENTS OF THE URBAN ENTERPRISE ZONE AND
2 AND 7/10 PERCENT OF WAGES PAID WITH RESPECT TO ALL OTHER
EMPLOYEES.

Article 101 - Workmen's Compensation