Ch. 661                                    1994 LAWS OF MARYLAND               

[(7)] (9) property that is owned by the La Vale Lions Club Foundation, Inc.

(c) (1) The governing body of Allegany County [shall MAY grant, BY-LAW, a
property tax credit under this section against the county property tax imposed on:

(i) property that is:

1. owned directly or indirectly by a bona fide labor union or a
corporation whose capital stock is owned only by a bona fide labor union;

2. used only for the mutual benefit of the members of the bona
fide labor union; and

3. except as provided in paragraph (2) of this subsection, not
used for profit;

(ii) real property that is:

1. owned by a religious organization;

2. leased to the La Vale Athletic Association;

3. located in La Vale; and

4. used only to conduct athletic and recreational programs for
youth; [and]

(iii) real property on which improvements arc made to a structure that
the governing body of Allegany County has certified to be historically or architecturally
significant; AND

(IV) REAL PROPERTY THAT IS:

1. OWNED BY THE GREATER CUMBERLAND CHAMBER OF
COMMERCE;

2. KNOWN AS THE BELL TOWER BUILDING; AND

3. LOCATED IN CUMBERLAND, MARYLAND.

(2) Any property under paragraph (1)(i) of this subsection that is
commercially rented is taxable to the extent of the commercial use of the property.

(3) A property tax credit granted under paragraph (l)(iii) of this subsection
shall be:

(i) the following percentage of the increase that is due to the
improvement:

1. 100% of the increase in the assessment of the real property
in the 1st and 2nd taxable years that the improved structure is subject to the county
property tax;

2. 80% of the increase in the assessment of the real property in
the 3rd taxable year that the improved structure is subject to the county property tax;

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