HARRY HUGHES, Governor                                        165

"Property" § 1-101 "Property tax" § 1-101

7-205. COMMUNITY WATER SYSTEMS.

PROPERTY THAT IS OWNED BY ANY NONPROFIT COMMUNITY WATER
CORPORATION IS NOT SUBJECT TO PROPERTY TAX IF THE CORPORATION:

(1)  IS OWNED BY A MAJORITY OF THE LOT OWNERS IN THE
AREA THAT THE WATER SYSTEM SERVES; AND

(2)  CHARGES A RATE THAT IS SUFFICIENT ONLY TO PAY FOR
THE COST OF OPERATING THE SYSTEM.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 81, § 9(a)
and (m).

In the introductory language of this section, the
former word "company" is deleted as included in the
defined term "corporation".

In item (1) of this section, the former clause "either
through ownership of stock certificates in the company
or corporation, or other means of ownership", which
related to the method of ownership exercised by the
lot owners, is deleted as superfluous.

Defined terms: "Corporation" § 1-101
"Property" § 1-101 "Property tax" § 1-101

7-206. CONTINUING CARE FACILITY FOR AGED.

(A)  "FACILITY" DEFINED.

IN THIS SECTION, "FACILITY" MEANS A CONTINUING CARE FACILITY
FOR THE AGED THAT:

(1)  PROVIDES CONTINUING CARE AS DEFINED IN ARTICLE
70B, § 7(B) OF THE CODE;

(2)  IS LICENSED AS A RELATED INSTITUTION UNDER TITLE
19, SUBTITLE 3 OF THE HEALTH - GENERAL ARTICLE;

(3)  IS CERTIFIED BY THE OFFICE ON AGING; AND

(4)  IS EXEMPT FROM FEDERAL INCOME TAX UNDER §
501(C)(3) OF THE INTERNAL REVENUE CODE.

(B)  EXEMPTION.

PROPERTY IS NOT SUBJECT TO PROPERTY TAX IF THE PROPERTY:

(1)  IS OWNED BY A FACILITY; AND

(2)  IS USED: