WILLIAM DONALD SCHAEFER, Governor                   Ch. 552

(ii) applies for farm or agricultural use
assessment under § 8-209 of this article for the land that is
transferred.

(2)  (i) If there is a failure to comply with a
declaration of intent filed under paragraph (1) of this
subsection including the building of nonagricultural improvements
or nonagricultural site improvements or there is a failure to
qualify for the farm or agricultural use assessment under § 8-209
of this article during the time that a declaration of intent is
in effect, the agricultural land transfer tax, PLUS PENALTY, is
due on that portion of the land that fails to comply with the
declaration of intent or to qualify for farm or agricultural use
[at the amount that would have been payable at the date of
transfer plus interest at an annual rate of 12%].

(ii) The tax and [interest] PENALTY due under
[subparagraph (i) of this paragraph] THIS SUBSECTION are a lien
on the agricultural land that was transferred. The tax [is] AND
PENALTY ARE due on the earlier of:

1.  the next date on which property tax on
the agricultural land is due under § 10-102 of this article; or

2.  the date of the next transfer of any
part of the agricultural land.

(3)  FOR THE PURPOSE OF PARAGRAPH (2) OF THIS
SUBSECTION, THE SUPERVISOR SHALL CALCULATE THE AMOUNT OF THE
AGRICULTURAL LAND TRANSFER TAX DUE BY:

(I)  DETERMINING THE FAIR MARKET VALUE OF THE
LAND SUBJECT TO THE TAX AS OF THE MOST RECENT JULY 1 AND
PROVIDING THE PROPERTY OWNER WITH A NOTICE OF THAT VALUE, WHICH
THE PROPERTY OWNER MAY APPEAL AS PROVIDED BY § 8-404 OF THIS
ARTICLE;

(II)  MULTIPLYING THE FAIR MARKET VALUE OF THE
LAND SUBJECT TO THE TAX BY THE RATE OF TAX PROVIDED UNDER §
13-303 OF THIS ARTICLE; AND

(III)  ADDING TO THE TAX CALCULATED UNDER
SUBPARAGRAPH (II) OF THIS PARAGRAPH A PENALTY IN THE AMOUNT OF
10% OF THE TAX DUE.

(d) (1) An instrument of writing that transfers title to
[20 or more acres of] agricultural land that is eligible for farm
or agricultural use assessment OR THAT RECEIVED THE AGRICULTURAL
USE ASSESSMENT AS OF THE MOST RECENT JULY 1 under § 8-209 of this
article is subject to the agricultural land transfer tax as
provided in paragraph (2) of this subsection, if the transferee:

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