Ch. 544

1995 LAWS OF MARYLAND

(V)     10% FOR THE FIFTH TAXABLE YEAR IN WHICH THE PROPERTY
QUALIFIES FOR THE TAX CREDIT; AND

(VI)   0% FOR EACH TAXABLE YEAR THEREAFTER.

(4)     THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY MAY PROVIDE
ADDITIONAL ELIGIBILITY REQUIREMENTS.

(5)     THE MAYOR AND CITY COUNCIL OF BALTIMORE CITY MAY PROVIDE
FOR PROCEDURES FOR THE SUBMISSION OF AN APPLICATION FOR A PROPERTY TAX
CREDIT UNDER THIS SUBSECTION AND THE GRANTING OF THE CREDIT, INCLUDING
PROCEDURES FOR THE GRANTING OF A PARTIAL CREDIT FOR PROPERTY
QUALIFYING FOR THE CREDIT FOR LESS THAN A FULL TAXABLE YEAR.

(6)     A NEWLY CONSTRUCTED MARKET-RATE RENTAL HOUSING
PROJECT MAY NOT QUALIFY FOR THE FIRST TAXABLE YEAR OF A TAX CREDIT
UNDER THIS SUBSECTION AFTER JUNE 30, 2001.

(7)     AN ORDINANCE OF THE MAYOR AND CITY COUNCIL AUTHORIZING
TAX CREDITS IN ACCORDANCE WITH THIS SUBSECTION SHALL REQUIRE:

(I)      THE DEVELOPMENT OF A METHOD, TO BE APPROVED BY THE
BOARD OF ESTIMATES, FOR ANALYSIS OF THE PUBLIC COSTS AND BENEFITS OF THE
TAX CREDITS; AND

(II)    AN ANNUAL REPORT TO THE BOARD OF ESTIMATES AND TO
THE MAYOR AND CITY COUNCIL OF THE RESULTS AND FINDINGS OF THAT
ANALYSIS.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1995.                                                                                     

Approved May 25, 1995.

CHAPTER 544
(House Bill 282)

AN ACT concerning

Insurance - Exemption from Regulation - Voluntary Noncontractual Religious

Publication Arrangements

FOR the purpose of exempting certain voluntary noncontractual religious publication
arrangements from the Insurance Code; defining a, voluntary noncontractual
religious publication arrangement; specifying certain conditions that must be
satisfied in order for an arrangement to be considered a voluntary noncontractual
religious publication arrangement for purposes of this Act; specifying a disclaimer
notice that must appear on each document distributed by these arrangements;
requiring the Secretary of State to submit a certain report; providing for the future
codification of certain provisions of this Act; providing for the termination of this

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