(2) 35% of the County property tax for the 6th taxable year after the
purchase of the real property;

(3) 30% of the County property tax for the 7th taxable year after the
purchase of the real property;

(4) 25% of the County property tax for the 8th taxable year after the
purchase of the real property;

(5) 20% of the County property tax for the 9th taxable year after the
purchase of the real property;

(6) 15% of the County property tax for the 10th taxable year after the
purchase of the real property; and

(7) 0% of the County, property tax for each taxable year thereafter.

(d) The property tax credit shall first apply to the taxable year beginning after
the date of the purchase of the eligible real property.

(e) The Mayor and City Council of Baltimore City and the governing body of
Baltimore County may provide, by law, for any other provision necessary to carry out
the property tax credit under this section.

(f) The Mayor and City Council of Baltimore City and the governing body of
Baltimore County shall hold a public hearing prior to the final designation of the
geographic area under subsection (a) of this section.

(g) The Mayor and City Council of Baltimore City and the governing body of
Baltimore County shall provide, on an annual basis to those individuals qualifying for
the property tax credit under this section, a statement certifying qualification for the
property tax credit and the amount of the property tax credit being granted. The
statement may be provided on or with the annual property tax bill or in another
manner as chosen by the local government.

(h) [(1) Subject to the provisions of paragraph (2) of this subsection, the
Mayor and City Council of Baltimore City and the governing body of Baltimore
County shall establish guidelines precluding the availability of the tax credit under
this section if the residential real property is purchased through a federal or State
housing assistance program.

(2) Notwithstanding any other provision of law, the tax credit under this
section may not be denied if:

(i) the mortgage loan is guaranteed or insured through the
Department of Veterans Affairs, the Federal Housing Administration, the Rural
Housing Services, or the Maryland Housing Fund; or

(ii) the mortgage loan is intended to be purchased by the Federal
National Mortgage Association, the Federal Home Loan Mortgage Association, the
Governmental National Mortgage Association, or the Community Development
Administration within the Department of Housing and Community Development. ] IN
ORDER TO BE ELIGIBLE FOR A PROPERTY TAX CREDIT UNDER THIS SECTION, AN