Ch. 178                                           LAWS OF MARYLAND

WITH THE HISTORIC CHARACTER OF THE PROPERTY OR DISTRICT UNDER THE
REGULATIONS OF THE COMPTROLLER.

(III)   "CERTIFIED LOCAL GOVERNMENT" MEANS A
POLITICAL SUBDIVISION IN THE STATE THAT:

1.  PARTICIPATES IN THE UNITED STATES
DEPARTMENT OF INTERIOR NATIONAL PARK SERVICE CERTIFIED LOCAL
GOVERNMENT PROGRAM AS STIPULATED IN 36 CODE OF FEDERAL
REGULATIONS 61;

2.  CONDUCTS A HISTORIC PRESERVATION
PROGRAM THAT THE NATIONAL PARK SERVICE CERTIFIES AS MEETING ALL
OF THE REQUIREMENTS AND CRITERIA OF THE PROGRAM AS STIPULATED IN
3 6 CODE OF FEDERAL REGULATIONS 61; AND

3.  FOR THE DESIGNATION OF INDIVIDUAL
HISTORIC PROPERTIES AND HISTORIC DISTRICTS, EMPLOYS CRITERIA THAT
THE MARYLAND HISTORICAL TRUST APPROVES AS BEING CONSISTENT WITH
CRITERIA USED BY THE TRUST.

(IV) "CERTIFIED NONDEPRECIABLE HISTORIC

STRUCTURE" MEANS A STRUCTURE THAT IS NOT SUBJECT TO THE
DEPRECIATION ALLOWANCE UNDER § 167 OR § 168 OF THE INTERNAL
REVENUE CODE AND IS:

1. LISTED IN THE NATIONAL REGISTER OF
HISTORIC PLACES;

2. DESIGNATED AS AN INDIVIDUAL HISTORIC
SITE BY A CERTIFIED LOCAL GOVERNMENT;

3. LOCATED IN A REGISTERED HISTORIC
DISTRICT AND CERTIFIED AS BEING OF HISTORIC SIGNIFICANCE BY THE
UNITED STATES SECRETARY OF THE INTERIOR OR THE MARYLAND
HISTORICAL TRUST; OR

4.  LOCATED IN A DISTRICT DESIGNATED AS
HISTORIC BY A CERTIFIED LOCAL GOVERNMENT AND CERTIFIED AS BEING
OF HISTORIC SIGNIFICANCE BY THE CERTIFIED LOCAL GOVERNMENT.

(2)  THE SUBTRACTION UNDER SUBSECTION (A) OF THIS
SECTION INCLUDES THE AMOUNT ALLOWED UNDER PARAGRAPH (3) OF THIS
SUBSECTION FOR THE AMORTIZATION OF THE AMORTIZABLE BASIS OF A
CERTIFIED NONDEPRECIABLE HISTORIC STRUCTURE BASED ON A PERIOD OF
6 0 MONTHS.

(3)  (I) THE ALLOWABLE AMORTIZATION DEDUCTION IS THE
SUM OF THE AMORTIZATION EXPENSES FOR THE SEVERAL MONTHS OF THE
TAXABLE YEAR.

(II) THE AMORTIZATION EXPENSE FOR A MONTH IS
THE AMORTIZABLE BASIS AT THE END OF THE MONTH DIVIDED BY THE

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