314                                                LAWS OF MARYLAND                                      Ch. 8

(H) REMITTANCE OF FUNDS.

AS PROVIDED IN THE STATE BUDGET, THE STATE SHALL REMIT TO
EACH COUNTY OR MUNICIPAL CORPORATION AN AMOUNT EQUAL TO ONE-HALF
OF THE FUNDS THAT WOULD HAVE BEEN COLLECTED IF THE PROPERTY TAX
CREDIT UNDER THIS SECTION HAD NOT BEEN GRANTED.

(I) REIMBURSEMENTS.

(1)  QUARTERLY OR MORE FREQUENTLY, THE COUNTY OR
MUNICIPAL CORPORATION SHALL SUBMIT A REQUEST TO THE DEPARTMENT OF
ASSESSMENTS AND TAXATION FOR THE AMOUNT REQUIRED BY SUBSECTION
(H) OF THIS SECTION.

(2)  WITHIN 5 WORKING DAYS AFTER THE DEPARTMENT OF
ASSESSMENTS AND TAXATION RECEIVES THE REQUEST FROM THE COUNTY OR
MUNICIPAL CORPORATION, THE DEPARTMENT SHALL CERTIFY TO THE
COMPTROLLER THE REIMBURSEMENT DUE TO EACH COUNTY OR MUNICIPAL
CORPORATION.

(3)  WITHIN 5 WORKING DAYS AFTER THE COMPTROLLER
RECEIVES THE CERTIFICATION FROM THE DEPARTMENT, THE COMPTROLLER
SHALL REIMBURSE EACH COUNTY OR MUNICIPAL CORPORATION.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 81, §
12G-11.

Throughout this section, the former reference to a
"special" tax credit is deleted as confusing, since
property taxes are direct taxes.

In subsection (a)(4)(ii) of this section, the
references to "real property" are substituted for the
former references to "property", for clarity.

In subsections (b), (f), (h), and (i) of this section,
the former references to Baltimore City are deleted as
included in the defined term "county".

In subsection (b) of this section, the phrase "the
governing body of a county or of a municipal
corporation" is substituted for the former term
"political subdivision", for clarity.

Also in subsection (b) of this section, the former
reference to the "owner of qualified property"
receiving the tax credit is deleted as superfluous.

In subsection (e)(1) of this section, the phrase
"beginning with the taxable year" is added to modify
"5 consecutive years", for clarity.

Also in subsection (e)(1) of this section, the word