Ch. 685                                    1997 LAWS OF MARYLAND

Article - Tax - Property

9-320.

The governing body of St. Mary's County may grant, by law, a property tax credit
under this section against county property tax imposed on:

(1)     property that is:

(i) owned by the St. George's Island Improvement Association,
Incorporated; and

(ii) used only for community or civic purposes;

(2)     real property that is owned by the Seventh District Optimist Youth
Foundation, Inc.; and

(3)     [a building other than a tobacco barn that is:

(i) located on land that qualifies for an agricultural use assessment;
and

(ii) used in connection with an activity that is recognized by the
Department as an approved agricultural activity] REAL PROPERTY THAT IS SUBJECT TO
THE MARYLAND AGRICULTURAL LAND PRESERVATION DISTRICT PROGRAM OR
THE ST. MARY'S COUNTY AGRICULTURAL LAND PRESERVATION DISTRICT 5-YEAR
PROGRAM.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1997.

Approved May 22, 1997.

CHAPTER 685

(House Bill 688)

AN ACT concerning

Maryland Insurance Administration - Funding Mechanism

FOR the purpose of establishing the Insurance Regulation Fund as a special fund within
the State budget; providing for the characteristics, management, income, purpose,
and expenditures of the Fund; establishing an insurance regulation fee to be
imposed on certain entities in lieu of all other fees; establishing a certain limitation
on a certain assessment rate; providing for the segregation of an account for the
Insurance Fraud Division; repealing certain fees; altering the guidelines used by the
Commissioner when calculating retaliatory taxes and fees; altering certain fees;
altering a certain expiration date; requiring the Insurance Administration to impose
the insurance regulation fee in a certain manner; providing for the effective dates of
this Act; and generally relating to the funding of the costs and expenses of the
Maryland Insurance Administration related to the regulation of insurance activities

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