Sincerely,

Parris N. Glendening
Governor

House Bill 262

AN ACT concerning

Property Tax Credit - Vacant or Underutilized Commercial Buildings

FOR the purpose of authorizing the governing body of a county or municipal
corporation to provide for a property tax exemption or credit for certain vacant
or underutilized commercial buildings that are converted primarily to housing;
authorizing the governing body of a county or municipal corporation to establish
certain conditions for the granting of any property tax credit or exemption;
restricting the use of either on exemption or a credit for each property; requiring
the governing body of a county or municipal corporation to submit a copy of any
legislation granting an exemption or a credit to the Maryland Department of
Assessments and Taxation by a certain date; and generally relating to a
property tax credit or exemption for certain vacant or underutilized commercial
buildings in a county or municipal corporation that are converted primarily to
housing.

BY adding to

Article - Tax - Property
Section 7-504.3 and 9-233
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

(3) IS RENOVATED FOR USE PRIMARILY AS HOUSING.