Ch. 97                                     1996 LAWS OF MARYLAND

[(ii)] (2) 2. the amount of the tax due if paid in semiannual
installments, including any applicable discounts for early payment of the first installment;

[(iii)] (3) 3. the amount of service charge to be paid with the second
installment; and

[(iv)] (4) 4. the date the tax payment is due[; and

(2) (II) shall include two semiannual payment coupons that may be
submitted cither separately with the appropriate payment as semiannual payments or at
the same time with a single annual payment] BE SUBJECT TO APPROVAL BY THE
DEPARTMENT OF ASSESSMENTS AND TAXATION.

(2) THE DEPARTMENT SHALL APPROVE ANY LOCAL SEMIANNUAL PAYMENT
SCHEDULE COLLECTION THAT:

(I) PROVIDES EFFICIENT AND COST-EFFECTIVE COLLECTION OF
TAXES; AND

(II) PROVIDES TWO SEMIANNUAL COUPONS, TWO SEMIANNUAL
BILLING FORMS, OR A SIMILAR METHOD THAT ALLOWS TAXPAYERS TO ELECT, AT THE
TIME THEY RECEIVE THEIR TAX BILLS, TO PAY ON EITHER A SEMIANNUAL OR ANNUAL
BASIS.

(3) LOCAL SEMIANNUAL PAYMENT SCHEDULE COLLECTION SYSTEMS
THAT ARE NOT APPROVED BY THE DEPARTMENT SHALL UTILIZE 2 SEMIANNUAL
PAYMENT COUPONS THAT MAY BE SUBMITTED SEPARATELY WITH THE APPROPRIATE
PAYMENT AS SEMIANNUAL PAYMENTS, OR AT THE SAME TIME WITH A SINGLE ANNUAL
PAYMENT.

[(g)] (I) A payment under a semiannual schedule is due:

(1)     for the first installment:

(i) on July 1 of the tax year; and

(ii) may be paid without interest on or before September 30 of the tax
year; and

(2)     for the second installment:

(i) on January 1 of the tax year; and

(ii) except for the service charge, may be paid without interest on or
before January 31 of the tax year.

[(h)] (J) (1) If an escrow account is established for the payment of the property
tax, the tax shall be paid ESCROW ACCOUNT SERVICER SHALL PAY TAX in annual or
semiannual installments as directed by the property owner or borrower PAYMENTS
UNLESS THE ESCROW ACCOUNT SERVICER HAS RECEIVED WRITTEN DIRECTION
FROM THE PROPERTY OWNER OR BORROWER TO PAY PROPERTY TAX IN
SEMIANNUAL INSTALLMENTS.

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