1994 LAWS OF MARYLAND

generally relating to State reimbursements to counties for certain property tax
credits granted to homeowners.

BY adding to

Article - Tax - Property

Section 9-104(a-1)

Annotated Code of Maryland

(1986 Volume and 1993 Supplement)

BY repealing and reenacting, with without amendments,
Article - Tax - Property
Section 9-104(p)
Annotated Code of Maryland
(1986 Volume and 1993 Supplement)

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

Article - Tax - Property

9-104.

(A-1) (1) THE HOMEOWNERS' TAX CREDIT UNDER THIS SECTION IS A STATE-
FUNDED PROGRAM.

(2) IT IS THE INTENT OF THE GENERAL ASSEMBLY THAT:

(I) THE STATE SHALL APPROPRIATE SUFFICIENT FUNDS TO
REIMBURSE THE FULL AMOUNT OF TAX CREDITS GRANTED UNDER THIS SECTION;

AND

(II) THE STATE, AND NOT THE LOCAL GOVERNMENTS, SHALL BEAR
THE BURDEN OF ANY INSUFFICIENCY OF FUNDS TO FULLY REIMBURSE THE
COUNTIES FOR PROPERTY TAX CREDITS GRANTED UNDER THIS SECTION.

(I) THE STATE SHALL PAY THE ENTIRE COST OF PROPERTY TAX
CREDITS GRANTED UNDER THIS SECTION.

(II) THE GOVERNOR SHALL INCLUDE IN THE PROPOSED ANNUAL
BUDGET THE AMOUNT NECESSARY TO FULLY REIMBURSE THE COUNTIES FOR THE
PROJECTED COST OF PROPERTY TAX CREDITS GRANTED UNDER THIS SECTION. IT IS
THE INTENT OF THE GENERAL ASSEMBLY THAT:

(I) THE STATE SHALL APPROPRIATE SUFFICIENT FUNDS TO
REIMBURSE THE FULL AMOUNT OF TAX CREDITS GRANTED UNDER THIS SECTION; AND

(II) THE STATE, AND NOT THE LOCAL GOVERNMENTS, SHALL BEAR
THE BURDEN OF ANY INSUFFICIENCY OF FUNDS TO FULLY REIMBURSE THE COUNTIES
FOR PROPERTY TAX CREDITS UNDER THIS SECTION.

- 1530 -

Ch. 177