HARRY HUGHES, Governor

2933

Article - Tax - Property
Section 9-317(c)(b)
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

9-317.

(c)(1) The governing body of Montgomery County may grant,
by law, a property tax credit under this section against the
county property tax imposed on:

(i) real property on which an improvement is
made to an existing structure in a neighborhood improvement plan
area that the governing body of Montgomery County determines to
be a special target area for residential, business, and community
redevelopment because of blight or deterioration; [and]

(ii) real property that is:

1. owned by Bannockburn Cooperators,

Incorporated;

2. leased by Bannockburn Community Club,
Incorporated; and

3. used only for community, civic,

educational, and recreational purposes and to promote social
welfare; AND

(III) REAL PROPERTY THAT IS:

1. LOCATED IN AN AREA DESIGNATED BY THE

GOVERNING BODY OF MONTGOMERY COUNTY AS A COMMERCIAL

REVITALIZATION DISTRICT; AND

2. ON APPLICATION OF THE PROPERTY OWNER,
CERTIFIED BY THE MONTGOMERY COUNTY DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT AS MEETING THE QUALIFICATIONS FOR INCLUSION
IN THE COMMERCIAL REVITALIZATION DISTRICT.

(2) A property tax credit granted under paragraph
(1)(i) of this subsection shall be:

(i) a percentage of the actual cost of the

improvements as the governing body of Montgomery County

determines for the 1st 4 taxable years that the improved property
is subject to county property tax; and