HARRY HUGHES, Governor                                        607

PROPERTY ARTICLE and on such other terms as it may prescribe.

(b)  The unpaid balance of the transfer tax plus interest
shall be a lien on the property affected.

(c)  Montgomery County may issue annually tax anticipation
notes in an amount not to exceed the amount of taxes deferred as
provided in subsection (a) of this section.

SECTION 12. AND BE IT FURTHER ENACTED, That Section(s)
9C(k-l)(7) of Article 81 - Revenue and Taxes be repealed and
reenacted, without amendments, and transferred from the Annotated
Code of Maryland to the Session Laws to read as follows:

[(k-l)

(7)] For taxable year 1983-1984, and for purposes of
county taxation only, the county government, by law, may provide
for a credit against real property taxes on real property owned
by Great Hope Homes, Limited, known among the land records of
Montgomery County as parcel lettered "A" in the subdivision known
as "Good Hope Manor" as per plat thereof recorded among the land
records of Montgomery County, Maryland, in plat 95 at plat 10560,
Silver Spring, Maryland, for so long as the improvements on the
property remain financed under the Federal Housing Administration
pursuant to Section 236 of the National Housing Act, as amended.

SECTION 13. AND BE IT FURTHER ENACTED, That Section(s)
12F-8 of Article 81 - Revenue and Taxes be repealed and
reenacted, without amendments, and transferred from the
Annotated Code of Maryland to the Session Laws to read as
follows:

Montgomery County by law may provide for tax deferrals of
county real property taxes levied on certain residential
buildings defined by the county as moderate income, as defined in
Montgomery County regulations based on § 8 of the United States
Housing Act of 1937, as amended, multifamily rental housing
facilities; and providing that the cumulative amount of any
deferral shall be due and payable to the county in the event the
property no longer qualifies as a moderate income, multifamily
rental housing facility. The amount of any deferral provided for
in accordance with this section, the duration for which it is to
apply, the qualification of eligible property, and all other
specifics pertaining to the tax deferral shall be as the county
deems appropriate and provides for in the law. The unpaid
balance of the deferrals shall be a lien on the property
affected.

SECTION 14. AND BE IT FURTHER ENACTED, That Section(s) 98
through 99A, inclusive, of Article 81 - Revenue and Taxes be
repealed and reenacted, without amendments, and transferred from
the Annotated Code of Maryland to the Session Laws to read as