WILLIAM DONALD SCHAEFER, Governor                            Ch. 657

and City Council of Baltimore and the governing body of a county or of a municipal
corporation to grant tax credit credits against property tax imposed on the value of
certain historic properties; excluding Baltimore City from certain provisions;
limiting the period over which the tax credits may extend; specifying the standards
to be met to qualify for the tax credits; and generally relating to property tax credits
for certain improvements to historic properties.

BY adding to

Article - Tax - Property

Section 9-204.1

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

9-204.1.

(A) IN THIS SECTION, "ELIGIBLE IMPROVEMENTS" MEANS SIGNIFICANT
IMPROVEMENTS TO, OR RESTORATION OR REHABILITATION OF, OR NEW
CONSTRUCTION ON ADDITIONS COMPATIBLE WITH HISTORIC PROPERTIES; THAT
ARE COMPATIBLE WITH SURROUNDING HISTORIC PROPERTIES.

(B) THIS SECTION DOES NOT APPLY TO BALTIMORE CITY.

(B) (C) (B) THE GENERAL ASSEMBLY DECLARES THAT IT IS IN THE
GENERAL PUBLIC INTEREST TO FOSTER AND ENCOURAGE HISTORIC
PRESERVATION ACTIVITIES THROUGH IMPROVEMENT, RESTORATION, AND AND
REHABILITATION OF OF, AND ADDITIONS COMPATIBLE WITH HISTORIC PROPERTY
AND COMPATIBLE NEW CONSTRUCTION SO AS TO:

(1)      PRESERVE AND PROTECT THE ARCHITECTURAL HERITAGE OF THE
STATE AS REPRESENTED BY ITS REMAINING HISTORIC BUILDINGS AND
STRUCTURES;

(2)      STIMULATE THE POSITIVE ASPECTS OF HISTORIC PRESERVATION,
SUCH AS ECONOMIC DEVELOPMENT AND EMPLOYMENT OPPORTUNITIES; AND

(3)      IMPLEMENT AND EFFECT LOCAL GOVERNMENT PLANNING
ACTIVITIES AIMED AT PRESERVING HISTORIC STRUCTURES, SITES, AND DISTRICTS.

(C) (D) (C) IT IS THE INTENT OF THE GENERAL ASSEMBLY THAT:

(1) THE TAXATION OF SIGNIFICANT IMPROVEMENTS TO, AND
RESTORATION OR REHABILITATION OF, AND NEW CONSTRUCTION ON ADDITIONS
COMPATIBLE WITH HISTORIC PROPERTIES, THAT ARE COMPATIBLE WITH
SURROUNDING HISTORIC PROPERTIES BE MAINTAINED, FOR A PERIOD OF UP TO 10

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