Annotated Code of Maryland

(1994 Replacement Volume and 1998 Supplement)

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

Article - Tax - Property

7-504.3.

(A) THE GOVERNING BODY OF A COUNTY OR MUNICIPAL CORPORATION MAY
PROVIDE BY LAW FOR AN EXEMPTION FROM THE COUNTY OR MUNICIPAL
CORPORATION PROPERTY TAX, IN PART OR IN FULL, IMPOSED ON A VACANT OR
UNDERUTILIZED COMMERCIAL BUILDING IF THE BUILDING:

(1) WAS BUILT PRIMARILY FOR OFFICE, INDUSTRIAL, OR OTHER
COMMERCIAL PURPOSES;

(2) WAS LAST USED. FOR OFFICE, INDUSTRIAL, OR OTHER COMMERCIAL
PURPOSES; AND

(3) IS RENOVATED FOR USE PRIMARILY AS HOUSING.

(B) THE GOVERNING BODY OF A COUNTY OR MUNICIPAL CORPORATION MAY
ESTABLISH CONDITIONS FOR THE GRANTING OF A PROPERTY TAX EXEMPTION
UNDER THIS SECTION, INCLUDING:

(1) ELIGIBILITY CRITERIA;

(2) APPLICATION PROCEDURES; AND

(3) PROVISIONS FOR A PAYMENT IN LIEU OF TAXES TO THE COUNTY OR
MUNICIPAL CORPORATION BY THE RECIPIENT OF THE EXEMPTION.

(C) IF THE GOVERNING BODY OF A COUNTY OR MUNICIPAL CORPORATION
GRANTS A PROPERTY TAX EXEMPTION UNDER THIS SECTION, IT MAY NOT ALSO
GRANT A PROPERTY TAX CREDIT UNDER § 9-233 OF THIS ARTICLE FOR THE SAME
BUILDING.

9-233.

(A) THE GOVERNING BODY OF A COUNTY OR MUNICIPAL CORPORATION MAY
GRANT, BY LAW, A PROPERTY TAX CREDIT UNDER THIS SECTION AGAINST THE
COUNTY OR MUNICIPAL CORPORATION PROPERTY TAX IMPOSED ON REAL PROPERTY
CONTAINING A VACANT OR UNDERUTILIZED COMMERCIAL BUILDING THAT:

(1) WAS BUILT PRIMARILY FOR OFFICE, INDUSTRIAL, OR OTHER
COMMERCIAL PURPOSES;

(2) WAS LAST USED FOR OFFICE, INDUSTRIAL, OR OTHER COMMERCIAL
PURPOSES; AND

(3) IS RENOVATED FOR USE PRIMARILY AS HOUSING.