HARRY HUGHES, Governor                                        361

(B)  COUNTY OR MUNICIPAL CORPORATION PROPERTY TAX --
OPTIONAL.

THE GOVERNING BODY OF ALLEGANY COUNTY OR OF A MUNICIPAL
CORPORATION IN ALLEGANY COUNTY MAY GRANT, BY LAW, A PROPERTY TAX
CREDIT UNDER THIS SECTION AGAINST THE COUNTY OR MUNICIPAL
CORPORATION PROPERTY TAX IMPOSED ON PROPERTY THAT IS:

(1)  OWNED BY THE NATIONAL BOARD OF YOUNG MEN'S
CHRISTIAN ASSOCIATIONS; AND

(2)  KNOWN AS THE RAILROAD YMCA OF CUMBERLAND.

(C)  COUNTY TAX -- MANDATORY.

(1) THE GOVERNING BODY OF ALLEGANY COUNTY SHALL GRANT
A PROPERTY TAX CREDIT UNDER THIS SECTION AGAINST THE COUNTY
PROPERTY TAX IMPOSED ON:

(I)  PROPERTY THAT IS:

1.  OWNED DIRECTLY OR INDIRECTLY BY A BONA
FIDE LABOR UNION OR A CORPORATION WHOSE CAPITAL STOCK IS OWNED
ONLY BY A BONA FIDE LABOR UNION;

2.  USED ONLY FOR THE MUTUAL BENEFIT OF
THE MEMBERS OF THE BONA FIDE LABOR UNION; AND

3.  EXCEPT AS PROVIDED IN PARAGRAPH (2) OF
THIS SUBSECTION, NOT USED FOR PROFIT;

(II)  REAL PROPERTY THAT IS:

1.  OWNED BY A RELIGIOUS ORGANIZATION;

2.  LEASED TO THE LA VALE ATHLETIC

ASSOCIATION;

LOCATED IN LA VALE; AND

4. USED ONLY TO CONDUCT ATHLETIC AND
RECREATIONAL PROGRAMS FOR YOUTH; AND

(III) REAL PROPERTY ON WHICH IMPROVEMENTS ARE
MADE TO A STRUCTURE THAT THE GOVERNING BODY OF ALLEGANY COUNTY
HAS CERTIFIED TO BE HISTORICALLY OR ARCHITECTURALLY SIGNIFICANT.

(2)  ANY PROPERTY UNDER PARAGRAPH (1)(I) OF THIS
SUBSECTION THAT IS COMMERCIALLY RENTED IS TAXABLE TO THE ' EXTENT
OF THE COMMERCIAL USE OF THE PROPERTY.

(3)  A PROPERTY TAX CREDIT GRANTED UNDER PARAGRAPH
(1)(III) OF THIS SUBSECTION SHALL BE:

(I) THE FOLLOWING PERCENTAGE OF THE INCREASE