HARRY HUGHES, Governor

339

THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR THE
GOVERNING BODY OF A COUNTY OR OF A MUNICIPAL CORPORATION MAY
GRANT, BY LAW, A PROPERTY TAX CREDIT UNDER THIS SECTION AGAINST
THE COUNTY OR MUNICIPAL CORPORATION PROPERTY TAX IMPOSED ON PART
OR ALL OF THE PROPERTY OF ANY MANUFACTURING, FABRICATING, OR
ASSEMBLING FACILITY THAT:

(1)  LOCATES IN THE COUNTY OR MUNICIPAL CORPORATION;

(2)  EXPANDS IN THE COUNTY OR MUNICIPAL CORPORATION;
OR

(3)  DEVELOPS A NEW PRODUCT OR INDUSTRIAL PROCESS.

(B)  AMOUNT.

A PROPERTY TAX CREDIT UNDER THIS SECTION IS 100% OF THE
COUNTY OR MUNICIPAL CORPORATION PROPERTY TAX AGAINST THE PROPERTY
DESCRIBED IN SUBSECTION (A) OF THIS SECTION.

(C)  DURATION.

A PROPERTY TAX CREDIT GRANTED UNDER THIS SECTION MAY BE
GRANTED FOR THE PERIOD OF YEARS FROM THE DATE OF COMPLETION OF A
NEW FACILITY OR EXPANSION OF A FACILITY THAT THE MAYOR AND CITY
COUNCIL OF BALTIMORE CITY OR THE APPROPRIATE GOVERNING BODY
DETERMINES.

(D) REGULATIONS.

THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR THE
APPROPRIATE GOVERNING BODY MAY:

(1)  ADOPT REGULATIONS NECESSARY TO CARRY OUT THIS
SECTION; AND

(2)  PROVIDE ANY OTHER RESTRICTION OR CONDITION
CONSIDERED DESIRABLE.

(E)  ADMINISTRATOR.

THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR EACH
GOVERNING BODY SHALL DESIGNATE THE ADMINISTRATIVE UNIT OR
OFFICIAL TO ADMINISTER THE PROPERTY TAX CREDIT GRANTED UNDER THIS
SECTION.

(F)  NOTICE.

WHEN A TAX BILL IS SENT TO A TAXPAYER WHO IS ENTITLED TO A
PROPERTY TAX CREDIT UNDER THIS SECTION, THE MAYOR AND CITY
COUNCIL OF BALTIMORE CITY OR THE APPROPRIATE GOVERNING BODY SHALL
GIVE NOTICE OF THE PROPERTY TAX CREDIT UNDER THIS SECTION TO THE
TAXPAYER.

(G)  APPLICATIONS.