PARRIS N. GLENDENING, Governor                             Ch. 520

(C)     SUBJECT TO SUBSECTION (D) OF THIS SECTION, THE PARTIAL EXEMPTION
GRANTED UNDER THIS SECTION:

(1)     IS EQUAL TO 95% OF THE ASSESSMENT OF THE PROPERTY; AND

(2)     SHALL APPLY ONLY TO PROPERTY PLACED IN SERVICE AS A PART
OF A CERTIFIED COAL POLLUTION CONTROL FACILITY OR A COAL WASTE DISPOSAL
POWER PROJECT, FOR WHICH ALL NECESSARY PERMITS, INCLUDING A CERTIFICATE
OF PUBLIC CONVENIENCE AND NECESSITY, ARE ISSUED ON OR AFTER JANUARY 1,
1997.

(D)    IF A CERTIFIED COAL POLLUTION CONTROL FACILITY PRODUCES A
PROFITABLE BY-PRODUCT OR IF A PART OF THE FACILITY IS REQUIRED FOR THE
OPERATION OF THE BUSINESS WITHOUT REGARD TO STATE AND FEDERAL AIR AN©
QUALITY, WATER QUALITY. AND EFFLUENT REQUIREMENTS, THE PARTIAL
EXEMPTION UNDER THIS SECTION APPLIES ONLY TO THAT PORTION OF THE VALUE
OF THE FACILITY ATTRIBUTABLE TO POLLUTION CONTROL ACTIVITY.

(E) IF A CERTIFIED COAL POLLUTION CONTROL FACILITY INCLUDES THE
REPLACEMENT. REPAIR, OR RETROFIT OF EQUIPMENT THAT WAS SUBJECT TO
PROPERTY TAX ON OR BEFORE DECEMBER 31, 1996, THE PARTIAL EXEMPTION
UNDER THIS SECTION SHALL BE REDUCED BY THE REPLACEMENT VALUE OF
EXISTING EQUIPMENT THAT IS REPLACED.

(E) (F) (1) THE DEPARTMENT SHALL ADOPT REGULATIONS TO
ADMINISTER THE EXEMPTION UNDER THIS SECTION.

(2) THE REGULATIONS ADOPTED UNDER THIS SUBSECTION SHALL
PROVIDE FOR THE METHOD FOR ALLOCATION OF VALUES REQUIRED UNDER
SUBSECTION (D) SUBSECTIONS (D) AND (E) OF THIS SECTION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1996.

Approved May 14, 1996.

CHAPTER 520
(House Bill 1103)

AN ACT concerning

Academic Facilities Bonding Authority

FOR the purpose of approving certain projects for the development and improvement of
certain academic facilities for the University of Maryland System; providing that the
intent of the General Assembly is that the amount of academic facilities bonds that may
be issued for the University of Maryland System may not exceed a certain amount in
Fiscal Year 1998 and all years thereafter; and approving the issuance of bonds by the
University of Maryland System for financing the projects.

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