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ROBERT L. EHRLICH, JR., Governor
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Ch. 536
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(J) (1) THE HOMEOWNER IS OTHERWISE ELIGIBLE FOR THE
CREDIT ALLOWED UNDER SUBSECTION (B) OF THIS SECTION § 9-105 OF THIS
SUBTITLE;
(II) (2) 1. (I) THE DWELLING IS:
A. 1. DAMAGED OR DESTROYED DUE TO A NATURAL
DISASTER; AND
B. 2. SUBSEQUENTLY REPAIRED OR RECONSTRUCTED;
2. (II) THE DWELLING IS REVALUED AFTER THE
DWELLING IS REPAIRED OR RECONSTRUCTED; AND
3. (III) AS A RESULT OF THE REVALUATION, THE
ASSESSMENT OF THE DWELLING EXCEEDS THE LAST ASSESSMENT OF THE
DWELLING; AND
(III) (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 (II) ITEM (2) OF THIS PARAGRAPH
SUBSECTION.
(2) (B) THE AMOUNT OF THE PROPERTY TAX CREDIT ALLOWED UNDER
THIS SUBSECTION SECTION SHALL EQUAL THE FOLLOWING PERCENTAGE OF MAY
NOT EXCEED SHALL EQUAL 100% OF THE PROPERTY TAX ATTRIBUTABLE TO AN
INCREASE IN THE ASSESSMENT OF THE DWELLING UPON REVALUATION UNDER §
8-104(C)(1)(III) OF THIS ARTICLE, INCLUDING IMPROVEMENTS, OVER THE LAST
ASSESSMENT OF THE DWELLING BEFORE THE REPAIR OR RECONSTRUCTION
NATURAL DISASTER, LESS THE AMOUNT OF ANY ASSESSMENT ON WHICH A
PROPERTY TAX CREDIT UNDER SUBSECTION (B) § 9-105 OF THIS SECTION IS
AUTHORIZED, AS FOLLOWS; SUBTITLE HAS BEEN AUTHORIZED.
(C) A CREDIT UNDER THIS SECTION MAY NOT BE GRANTED FOR MORE THAN 5
YEARS.
(D) THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR THE GOVERNING
BODY OF A COUNTY OR MUNICIPAL CORPORATION SHALL:
(1) ESTABLISH PROCEDURES OR REQUIREMENTS FOR THE
APPLICATION, REVIEW, AND APPROVAL OF TAX CREDITS UNDER THIS SECTION; AND
(2) NOTIFY THE DEPARTMENT OF ANY CREDITS THAT HAVE BEEN
GRANTED UNDER THIS SECTION.
(E) THE CREDIT UNDER THIS SECTION MAY NOT BE CLAIMED FOR A
DWELLING FOR WHICH REPAIR OR RECONSTRUCTION IS COMPLETED:
(1) BEFORE SEPTEMBER 18, 2003; OR
(2) AFTER DECEMBER 31, 2006.
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- 3127 -
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