PARRIS N. GLENDENING, Governor                             Ch. 601

(b)     The General Assembly declares that it is in the general public interest to
foster and encourage historic preservation AND HERITAGE TOURISM activities through
improvement, restoration, and rehabilitation of, [historic] HERITAGE OR HERITAGE
property 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] HERITAGE OR HERITAGE
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, AND HERITAGE AREAS.

(c)     It is the intent of the General Assembly that:

(1)     the taxation of significant improvements to, and restoration or
rehabilitation of, [historic] HERITAGE OR HERITAGE properties be maintained, for a
period of up to 10 years, at taxation levels not greater than those in place before the
eligible improvements if approved as part of a local government plan for [historic]
HERITAGE OR HERITAGE preservation;

(2)     the methods and procedures to implement a program for the purposes of
this section be determined by the applicable local government; and

(3)     State financial assistance to a local government not be conditioned upon
the local government implementing a program under this section.

(d)    The Mayor and City Council of Baltimore, the governing body of each county,
and the governing body of each municipal corporation may:

(1)     implement, by law, a program that provides for a property tax credit not
to exceed the difference between:

(i) the property tax that, but for the tax credit, would be payable after
the completion of eligible improvements; and

(ii) the property tax that would be payable if the eligible improvements
were not made; and

(2)     adopt any requirements and procedures that are necessary or
appropriate to carry out the purposes of this section.

(e)     A property tax credit provided for under this section shall:

(1)     be subject to eligibility requirements no less stringent than those
applicable to credits authorized under § 9-204 of this subtitle;

(2)     be for a period that does not exceed 10 years for each property;

(3)     apply to eligible improvements which are:
(i) located within the boundaries of:

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