HARRY HUGHES, Governor

595

CHAPTER 175

(House Bill 291)

AN ACT concerning

Income Tax - Historic Structures

FOR the purpose of modifying and clarifying the income tax
deduction for certified nondepreciable historic structures.

BY repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes

Section 281A

Annotated Code of Maryland

(1980 Replacement Volume and 1983 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 81 - Revenue and Taxes

281A.

(a)  As used in this section, the following words have the
meanings indicated.

(b)  "Certified nondepreciable historic structure" means a
building or structure which is not of a character subject to the
depreciation allowance provided in [§ 167] § 167 OR § 168 of the
Internal Revenue Code and which, but for not being of such
character, would be a "certified historic structure" as [defined
in § 191 of the Internal Revenue Code]:

(1)  LISTED IN THE NATIONAL REGISTER OF HISTORIC
PLACES; OR

(2)  LOCATED IN A REGISTERED HISTORIC DISTRICT AND
CERTIFIED AS BEING OF HISTORIC SIGNIFICANCE BY:

(I)  THE UNITED STATES SECRETARY OF THE
INTERIOR; OR

(II)  THE MARYLAND HISTORICAL TRUST.

(c)  "Certified rehabilitation" means any rehabilitation of
a certified nondepreciable historic structure which is consistent
with the historic character of that property or district as
determined in accordance with regulations promulgated by the
Comptroller.