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Ch. 89
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2006 LAWS OF MARYLAND
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1. DAMAGED OR DESTROYED DUE TO A NATURAL DISASTER;
AND
2. SUBSEQUENTLY REPAIRED OR RECONSTRUCTED;
(II) THE DWELLING IS REVALUED AFTER THE DWELLING IS
REPAIRED OR RECONSTRUCTED; AND
(III) AS A RESULT OF THE REVALUATION, THE ASSESSMENT OF THE
DWELLING EXCEEDS THE LAST ASSESSMENT OF THE DWELLING; AND
(3) THE HOMEOWNER CLAIMING THE CREDIT HAD A LEGAL INTEREST
IN THE DWELLING AT THE TIME THE DWELLING WAS DAMAGED OR DESTROYED AS
DESCRIBED UNDER ITEM (2) OF THIS SUBSECTION.
(B) A HOMEOWNER MAY RECEIVE A TAX CREDIT UNDER THIS SECTION ONLY
IF THE HOMEOWNER QUALIFIED AND RECEIVED A TAX CREDIT UNDER § 9-109 OF
THIS TITLE AND IS NO LONGER RECEIVING A TAX CREDIT UNDER § 9-109 OF THIS
TITLE.
(C) THE AMOUNT OF THE PROPERTY TAX CREDIT ALLOWED UNDER THIS
SECTION SHALL EQUAL 50% OF THE PROPERTY TAX ATTRIBUTABLE TO AN INCREASE
IN THE ASSESSMENT OF THE DWELLING ON REVALUATION UNDER § 8-104(C)(1)(III)
OF THIS ARTICLE, INCLUDING IMPROVEMENTS, OVER THE LAST ASSESSMENT OF
THE DWELLING BEFORE THE NATURAL DISASTER, LESS THE AMOUNT OF ANY
ASSESSMENT ON WHICH A PROPERTY TAX CREDIT UNDER § 9-105 OF THIS TITLE HAS
BEEN AUTHORIZED.
(D) A CREDIT UNDER THIS SECTION MAY NOT BE GRANTED FOR MORE THAN 3
YEARS.
(E) THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR THE GOVERNING
BODY OF A COUNTY OR MUNICIPAL CORPORATION MAY:
(1) ESTABLISH PROCEDURES OR REQUIREMENTS FOR THE
APPLICATION, REVIEW, AND APPROVAL OF TAX CREDITS UNDER THIS SECTION;
(2) ESTABLISH ADDITIONAL ELIGIBILITY CRITERIA SUCH AS AGE,
INCOME LEVEL, OR ASSESSMENT VALUE; AND
(3) NOTIFY THE DEPARTMENT OF ANY CREDITS THAT HAVE BEEN
GRANTED UNDER THIS SECTION.
(F) THE CREDIT UNDER THIS SECTION MAY NOT BE CLAIMED FOR A
DWELLING FOR WHICH REPAIR OR RECONSTRUCTION IS COMPLETED BEFORE
SEPTEMBER 18, 2003.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect June 1, 2006.
Approved April 11, 2006.
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- 630 -
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