HARRY HUGHES, Governor

523

Defined terms: "County property tax" § 1-101
"Person" § 1-101

14-607. INTEREST PAID -- ADVANCE PAYMENTS.

(A)  INTEREST ON COUNTY TAX AUTHORIZED.

THE. GOVERNING BODY OF A COUNTY MAY PROVIDE, BY LAW, FOR
INTEREST ON ADVANCE PAYMENTS OF COUNTY PROPERTY TAX.

(B)  LIMITATION.

THE INTEREST ALLOWABLE UNDER SUBSECTION (A) OF THIS SECTION
MAY NOT EXCEED THE DISCOUNT FOR THE TAXABLE YEAR THAT THE COUNTY
ALLOWS FOR THE COUNTY PROPERTY TAX ON THE PROPERTY.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second clause of
the first sentence of former Art. 81, § 49.

In subsection (a) of this section, the defined term
"governing body" is substituted for the former
references to "county commissioners" and the "mayor
and city council", for clarity.

Also in subsection (a) of this section, the defined
term "law" is substituted for the former reference to
"general resolution or ordinance", for clarity.

Also in subsection (a) of this section, the former
reference to "Baltimore" is deleted as included in the
defined term "county".

In subsection (b) of this section, the phrase "[t]he
interest allowable under subsection (a) of this
. section" is added for clarity.

Also in subsection (b) of this section, the phrase
"for the taxable year" is added to modify "discount",
for clarity.

Defined terms: "County" § 1-101

"County property tax" § 1-101

"Governing body" § 1-101 "Law" § 1-101

"Property" § 1-101 "Taxable year" § 1-101

14-608. SAME -- REFUND OF PERSONAL PROPERTY TAX.

THE GOVERNING BODY OF A COUNTY OR OF A MUNICIPAL CORPORATION
SHALL PROVIDE, BY LAW, FOR THE PAYMENT OF INTEREST ON REFUNDS OF
COUNTY OR MUNICIPAL CORPORATION PROPERTY TAX ON PERSONAL
PROPERTY.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second clause of