414                                               LAWS OF MARYLAND                                     Ch. 8

(III) THE DEFERRED PAYMENT OF COUNTY PROPERTY
TAX IS NOT FOR LAND IN THE PROPOSED DEVELOPMENT THAT IS ZONED FOR
OTHER THAN INDUSTRIAL OR COMMERCIAL USE.

(3) THE GOVERNING BODY OF PRINCE GEORGE'S COUNTY MAY
NOT AUTHORIZE A PAYMENT DEFERRAL FOR COUNTY PROPERTY TAX FOR REAL
PROPERTY LOCATED IN A DEVELOPMENT DISTRICT ESTABLISHED UNDER
ARTICLE 41, §§ 266JJ-1 THROUGH 266JJ-12 OF THE CODE.

(B)  EFFECTIVE DATE OF DEFERRAL.

(1)  A PAYMENT DEFERRAL UNDER THIS SECTION BEGINS ON
THE EFFECTIVE DATE OF THE LATER OF:

(I)  THE PRINCE GEORGE'S COUNTY LAW AUTHORIZING
THE PAYMENT DEFERRAL; OR

(II)  THE CHANGE IN ZONING.

(2)  THE PAYMENT DEFERRAL UNDER THIS SECTION DOES NOT
APPLY TO ANY TAXABLE YEAR BEFORE THE EFFECTIVE DATE UNDER
PARAGRAPH (1)(I) OF THIS SUBSECTION.

(C)  END OF DEFERRAL.

(1)  THE PAYMENT DEFERRAL UNDER THIS SECTION MAY NOT
BE AUTHORIZED FOR MORE THAN 5 YEARS AND ENDS WHEN:

(I)  A BUILDING PERMIT IS ISSUED TO CONSTRUCT A
BUILDING ON THE LAND SUBJECT TO THIS SECTION; OR

(II)  EXCEPT AS PROVIDED IN PARAGRAPH (2) OF
THIS SUBSECTION, THE LAND SUBJECT TO THIS SECTION IS REZONED AT
THE REQUEST OF THE OWNER TO A ZONING CLASSIFICATION THAT MAKES
THE LAND INELIGIBLE FOR COUNTY PROPERTY TAX DEFERRAL UNDER THIS
SECTION.

(2)  IF A PERMIT IS ISSUED TO CONSTRUCT A BUILDING ON
ANY LAND THAT IS SUBJECT TO THIS SECTION AND THE REMAINDER OF THE
LAND MEETS THE ACREAGE REQUIREMENTS OF SUBSECTION (A)(2)(I) OF
THIS SECTION, THE COUNTY PROPERTY TAX MAY BE DEFERRED ON THE
REMAINDER OF THE LAND.

(D)  PAYMENT DUE DATE.

THE COUNTY PROPERTY TAX THAT IS DEFERRED UNDER THIS SECTION,
AND ANY INTEREST SPECIFIED IN THE LAW AUTHORIZING THE DEFERRAL,
ARE DUE ON THE EARLIER OF:

(1)  5 YEARS FROM THE DEFERRAL; OR

(2)  WHEN THE DEFERRAL ENDS UNDER SUBSECTION (C)(1) OF
THIS SECTION.

REVISOR'S NOTE: This section is new language derived