(2) FOR THE FISCAL YEAR THAT BEGINS ON JULY 1, 2001, 40%;
(3) FOR THE FISCAL YEAR THAT BEGINS ON JULY 1, 2003, 80%; AND
(4) FOR THE FISCAL YEAR THAT BEGINS ON JULY 1, 2003, 80%.

(C) THE COMPTROLLER SHALL PAY THE AMOUNTS PROVIDED UNDER THIS
SECTION TO THE COUNTIES IN EQUAL AMOUNTS FOR EACH QUARTER AT THE END
OF EACH QUARTER OF THE FISCAL YEAR FOR WHICH THE PAYMENTS ARE MADE.

(D) 35% OF THE PAYMENT RECEIVED BY WASHINGTON COUNTY UNDER THIS
SECTION SHALL BE PAID TO THE TOWN OF WILLIAMSPORT.

3-1103.

(A) IN ADDITION TO ANY GRANT REIMBURSEMENT PROVIDED UNDER § 9-1102
OF THIS SUBTITLE, IF ON OR BEFORE JANUARY 1, 2010 2020, THE FEDERAL NUCLEAR
REGULATORY COMMISSION LICENSE FOR THE CALVERT CLIFFS NUCLEAR POWER
PLANT EXPIRES AND IS NOT EXTENDED OR RENEWED, FOR EACH OF THE 5
PROPERTY TAX YEARS FOLLOWING THE EXPIRATION AND NONRENEWAL, THE STATE
SHALL PAY AS A GRANT TO CALVERT COUNTY AN AMOUNT EQUAL TO THE
APPLICABLE PERCENTAGE, DETERMINED UNDER SUBSECTION (B) OF THIS SECTION,
OF THE DIFFERENCE BETWEEN:

(11 THE PRODUCT OF MULTIPLYING $14,554,000 TIMES THE PERCENTAGE
SPECIFIED FOR THE TAXABLE YEAR UNDER § 7-237(B) OF THE TAX - PROPERTY
ARTICLE; AND

(2) THE SUM OF:

(I) $2,000,000; AND

(II) THE COUNTY'S PROPERTY TAX REVENUE FOR THE TAXABLE
YEAR DERIVED FROM PERSONAL PROPERTY THAT IS MACHINERY OR EQUIPMENT
USED TO GENERATE ELECTRICITY FOR SALE.

(B) FOR EACH PROPERTY TAX YEAR FOLLOWING THE EXPIRATION AND
NONRENEWAL OF THE FEDERAL NUCLEAR REGULATORY COMMISSION LICENSE FOR
THE CALVERT CLIFFS NUCLEAR POWER PLANT, THE APPLICABLE PERCENTAGE FOR
PURPOSES OF DETERMINING THE GRANTS UNDER THIS SECTION IS:

(1) 100% FOR THE FIRST TAXABLE YEAR;

(2) 80% FOR THE SECOND TAXABLE YEAR;

(3) 60% FOR THE THIRD TAXABLE YEAR;

(4) 40% FOR THE FOURTH TAXABLE YEAR;

(5) 20% FOR THE FIFTH TAXABLE YEAR; AND

(6) 0% FOR EACH SUBSEQUENT TAXABLE YEAR

(C) FOR EACH TAXABLE YEAR FOR WHICH A GRANT IS TO BE PROVIDED
UNDER THIS SECTION, THE DEPARTMENT OF ASSESSMENTS AND TAXATION SHALL