HARRY HUGHES, Governor

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certain moderate income, multifamily rental housing
facilities.

BY adding to

Article - Tax - Property
Section 10-203
Annotated Code of Maryland
(1986 Volume)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Tax - Property

10-203.

(A)  (1) NOTWITHSTANDING SUBTITLE 1 OF THIS TITLE, THE
GOVERNING BODY OF MONTGOMERY COUNTY MAY AUTHORIZE, BY LAW, A
PAYMENT DEFERRAL OF COUNTY PROPERTY TAX FOR RESIDENTIAL REAL
PROPERTY THAT IS OCCUPIED AS A MODERATE INCOME, MULTIFAMILY
RENTAL HOUSING FACILITY.

(2) FOR PURPOSES OF THE TAX PAYMENT DEFERRAL
AUTHORIZED BY THIS SUBSECTION, THE GOVERNING BODY OF MONTGOMERY
COUNTY SHALL DEFINE THE TERM "MODERATE INCOME" THROUGH
REGULATIONS BASED ON § 8 OF THE UNITED STATES HOUSING ACT OF
1937, AS AMENDED.

(B)  THE LAW ADOPTED UNDER SUBSECTION (A)(1) OF THIS SECTION
SHALL SPECIFY THE TERMS, CONDITIONS, AND PROCEDURES FOR THE
PROPERTY TAX PAYMENT DEFERRAL, INCLUDING:

(1)  THE AMOUNT OF THE PAYMENT DEFERRAL;

(2)  THE DURATION OF THE PAYMENT DEFERRAL; AND

(3)  THE QUALIFICATIONS FOR THE PAYMENT DEFERRAL.

(C)  THE PROPERTY TAX PAYMENT DEFERRAL AUTHORIZED BY
SUBSECTION (A)(1) OF THIS SECTION SHALL CONTINUE UNTIL THE
PROPERTY NO LONGER MEETS THE CRITERIA, ESTABLISHED BY THE
GOVERNING BODY OF MONTGOMERY COUNTY, OF A MODERATE INCOME,
MULTIFAMILY RENTAL HOUSING FACILITY.

(D)  THE ACCRUED DEFERRED PROPERTY TAX IS DUE ON PROPERTY
THAT NO LONGER MEETS- THE SPECIFIED CRITERIA OF A MODERATE INCOME,
MULTIFAMILY RENTAL HOUSING FACILITY.

(E)  THE UNPAID TAXES DEFERRED UNDER THE AUTHORIZATION OF
SUBSECTION (A)(1) OF THIS SECTION ARE A LIEN AGAINST THE
PROPERTY.