348                                                LAWS OF MARYLAND                                      Ch. 8

THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR THE
GOVERNING BODY OF A COUNTY OR OF A MUNICIPAL CORPORATION MAY
GRANT A PROPERTY TAX CREDIT NOT EXCEEDING 100% OF THE COUNTY,
MUNICIPAL CORPORATION, OR SPECIAL DISTRICT PROPERTY TAX IMPOSED
ON AN "OPEN SPACE" OR "OPEN AREA" IF:

(1)  THE OWNER OF THE "OPEN SPACE" OR "OPEN AREA"
AGREES TO SELL OR CONVEY THE "OPEN SPACE" OR "OPEN AREA" IN AN
OPTION AGREEMENT TO:

(I)  THE FEDERAL, THE STATE, OR LOCAL
GOVERNMENT; OR

(II)  THE MARYLAND-NATIONAL CAPITAL PARK AND
PLANNING COMMISSION;

(2)  THE OPTION AGREEMENT:

(I)  PROVIDES THAT THE CONVEYANCE IS IN FEE
SIMPLE;

(II)  PROVIDES THAT THE CONVEYANCE IS MADE
WITHIN A FIXED PERIOD NOT EXCEEDING 20 YEARS;

(III)  PROVIDES THAT THE PRICE OF THE CONVEYANCE
DOES NOT EXCEED THE FAIR MARKET VALUE OF THE REAL PROPERTY WHEN
THE OPTION IS EXECUTED; AND

(IV)  CONTAINS PROVISIONS AS THE GRANTEE DEEMS
NECESSARY TO PRESERVE THE REAL PROPERTY AS AN "OPEN SPACE" OR
"OPEN AREA".

(E)  PROCEDURES AND ENFORCEMENT.

THE MAYOR AND CITY COUNCIL OF , BALTIMORE CITY OR THE
GOVERNING BODY OF A COUNTY OR OF A MUNICIPAL CORPORATION MAY
PROVIDE, BY LAW, FOR:

(1)  ANY PROCEDURAL OR ENFORCEMENT PROVISION NECESSARY
TO CARRY OUT THIS SECTION; AND

(2)  ANY CONDITION THAT IS UNIFORMLY APPLIED IN THE
GRANTING OF A PROPERTY TAX CREDIT UNDER THIS SECTION.

(F)  CATEGORIES.

(1)  THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY OR
THE GOVERNING BODY OF A COUNTY OR OF A MUNICIPAL CORPORATION MAY
DESIGNATE A FUNCTIONAL OR GEOGRAPHICAL CATEGORY OF "OPEN SPACE"
OR "OPEN AREA" ON WHICH A PROPERTY TAX CREDIT UNDER THIS SECTION
MAY BE GRANTED.

(2)  A FUNCTIONAL CATEGORY MAY INCLUDE: