5158

VETOES

(i) Comparing the 1978 actual assessment
with the adjusted 1976 assessment, as determined in
subsection (d)(3) of this section, and selecting the lesser
of the two amounts;

(ii) Multiplying the lesser of the two
amounts by 115 percent;

(iii) Subtracting this product from the

1979 actual assessment;

(iv) Multiplying this difference, provided
it is a positive number, by the applicable county, Baltimore
City or municipal tax rate for this year.

The amount determined in step (iv) of this paragraph
(3) shall be the amount of the tax credit for the 1979-1980
taxable year.

(4) For the 1980-1981 taxable year only, the
credit shall be calculated by:

(i) Comparing the 1979 actual__assessment,

the adjusted 1976 assessment, and the prior year adjusted
assessment, as determined in subsection (d)(4) of this
section, and selecting the least of the three amounts;

(ii) Multiplying the least of the three
amounts by 115 percent;

(iii) Subtracting this product from the

1980 actual assessment;

(iv) Multiplying this difference, provided
it is a positive number, by the applicable county, Baltimore
City, or municipal tax rate for this year. The amount
determined in step (iv) of this paragraph shall be the
amount of the tax credit for the 1980-1981 taxable year.

(5) For the 1981-1982 taxable year only, the
credit shall be calculated by:

(i) Comparing the 1980 actual assessment,
the adjusted 1976 assessment, and the prior year adjusted
assessment, as determined in subsection (d)(5) of this
section, and selecting the least of the three amounts;

(ii) Multiplying the least of the three
amounts by 115 percent;

(iii) Subtracting this product from the

1981 actual assessment;