HARRY HUGHES, Governor                                 5155

in a cooperative apartment corporation occupied by the
person having a legal Interest in the apartment. It also
includes a portion of real property used other than
primarily for residential purposes, if the property is used
as a principal residence by the person having a legal
interest for that property. In this case, the Department of
Assessments and Taxation shall apportion the total property
assessment between that portion of the property used for
residential purposes and that portion of the property used
other than for residential purposes. A dwelling may not be
deemed a principal residence which is not actually occupied
or expected to be actually occupied by the homeowner or
homeowners for more than six months of a 12-month period
beginning with the date of finality. A homeowner, otherwise
eligible, may qualify for the credit if he does not actually
reside in the dwelling the required time period because of
illness or need of special care. A homeowner or homeowners
may claim credit in only one dwelling.

(5) "TAXABLE ASSESSMENT" MEANS THE ASSESSMENT
UPON WHICH THE LOCAL TAX RATE WAS LEVIED IN THE PRECEDING
TAXABLE YEAR AFTER ANY TAX CREDIT CALCULATED PURSUANT TO
THIS SECTION.

(6) "ASSESSMENT" MEANS THE ASSESSED VALUE
DETERMINED BY THE DEPARTMENT OF ASSESSMENTS AND TAXATION FOR
THE CURRENT TAX YEAR.

[(d) (1) The following determinations shall be made
for the 1977-1978 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, 1977;

(ii) The amount of the assessment as of
January 1, 1976; and

(iii) The adjusted 1976 assessment which
is the product of the amount of the assessment as of January
1, 1976 multiplied by 115 percent.

(2) The following determinations shall be made
for the 1978-1979 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, 1978;

(ii) The amount of the assessment as of
January 1, 1977;

(iii) The adjusted 1976 assessment which
is the product of the amount of the assessment as of January