PARRIS N. GLENDENING, Governor

Ch. 479

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall be construed
only prospectively and may not be applied or interpreted to have any effect on or
application to any violation of a St. Mary's County ordinance occurring before the
effective date of this Act.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1997.

Approved May 8, 1997.

CHAPTER 479
(House Bill 765)

AN ACT concerning

St. Mary's County - Property Tax Credit - Personal Property Tax—Exemption

FOR the purpose of phasing in an exemption for personal property in St. Mary's County
from county property tax imposed in St. Mary's County authorizing the governing
body of St. Mary's County to grant, by law, a property tax credit against the county
property tax imposed on personal property; authorizing the governing body to
provide for the amount of the credit, the subclasses of personal property to which
the credit applies, and other provisions necessary to administer the credit; and
generally relating to a property tax credit in St. Mary's County for personal
property.

BY adding to

BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 7-402 9-320
Annotated Code of Maryland
(1994 Replacement Volume and 1996 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Tax - Property

7-402.

IN ST. MARY'S COUNTY.

(1) FOR THE TAXABLE YEAR BEGINNING JULY 1, 1997, ONE THIRD OF
THE ASSESSED VALUE OF ALL PERSONAL PROPERTY IS NOT SUBJECT TO THE
COUNTY PROPERTY TAX;

(2) FOR THE TAXABLE YEAR BEGINNING JULY 1, 1998, TWO THIRDS OF
THE ASSESSED VALUE OF ALL PERSONAL PROPERTY IS NOT SUBJECT TO THE
COUNTY PROPERTY TAX; AND

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