PARRIS N. GLENDENING, Governor                            H.B. 677

[(2)] (II) For voluntary contributions as to tax exempt property.

(2) (I) ON OR BEFORE JULY 1, 1997, THE MARYLAND PORT
ADMINISTRATION AND BOARD OF ESTIMATES OF BALTIMORE CITY SHALL EXECUTE
AGREEMENTS FOR THE ADMINISTRATION TO MAKE ANNUAL PAYMENTS IN LIEU OF
TAXES TO BALTIMORE CITY. BEGINNING IN FISCAL YEAR 1998, FOR THE PROPERTIES
ACQUIRED BY THE ADMINISTRATION IN BALTIMORE CITY KNOWN AS "MCCOMAS-
A2" AND "BENDIX - DMT".

(II) THE AGREEMENTS REQUIRED UNDER THIS PARAGRAPH
SHALL PROVIDE FOR THE ADMINISTRATION TO MAKE ANNUAL PAYMENTS TO
BALTIMORE CITY EQUAL TO THE APPLICABLE BALTIMORE CITY PROPERTY TAX
RATE MULTIPLIED TIMES THE ASSESSMENT OF THE LAND, ONLY, OF THESE
PROPERTIES, NOT INCLUDING THE ASSESSMENT OF ANY IMPROVEMENTS MADE TO
THE PROPERTIES.

6-411.

(A) THE ADMINISTRATION SHALL MAKE ANNUAL PAYMENTS IN LIEU OF TAXES
TO THE MAYOR AND CITY COUNCIL OF BALTIMORE FOR THE PROPERTIES KNOWN AS
"MCCOMAS-A2", "DMT-BENDIX", "SEAGRIT-PARCEL B", AND "TOYOTA-MD. SHIP".

(B) THE PAYMENTS REQUIRED UNDER THIS SECTION SHALL BE:

(1) FOR FISCAL YEAR 1998, $410,000 IN AGGREGATE AMOUNT;

(2) FOR FISCAL YEAR 1999, $418,200 IN AGGREGATE AMOUNT; AND

(3) FOR FISCAL YEAR 2000 AND EACH SUBSEQUENT FISCAL YEAR THE
PRODUCT OF MULTIPLYING THE APPLICABLE BALTIMORE CITY REAL PROPERTY TAX
RATE TIMES THE ASSESSMENT OF THE LAND AS DETERMINED UNDER TITLE 8 OF THE
TAX- PROPERTY ARTICLE, NOT INCLUDING THE ASSESSMENT OF ANY IMPROVEMENTS,
FOR EACH OF THE PROPERTIES.

(C) PAYMENTS UNDER THIS SECTION SHALL BE SUBJECT TO SUCH TERMS AND
CONDITIONS, IF ANY, AS MAY BE PROVIDED BY AGREEMENT BETWEEN THE
ADMINISTRATION AND BALTIMORE CITY.

8-403.

(a) (1) Subject to THE LIMITATION UNDER PARAGRAPH (2) OF THIS
SUBSECTION AND SUBJECT TO §§ 3-307 and 3-308 of this article, during each fiscal year,
[15 percent] of the total highway user [revenues] REVENUES, AN AMOUNT shall be
distributed to Baltimore City EQUAL TO THE SUM OF:

(I) THE GREATER OF $155,000,000 $156,000,000 $157,500,000 OR 11.5%
OF THE TOTAL HIGHWAY USER REVENUES FOR THE FISCAL YEAR; AND

(II) 11.5% OF THE AMOUNT BY WHICH THE TOTAL HIGHWAY USER
REVENUES FOR THE FISCAL YEAR EXCEED THE TOTAL HIGHWAY USER REVENUES
FOR THE FISCAL YEAR THAT BEGAN JULY 1, 1996.

(II) 11.5% OF THE AMOUNT BY WHICH:

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