(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.

(B) THE GOVERNING BODY OF A COUNTY OR MUNICIPAL CORPORATION MAY
ESTABLISH CONDITIONS FOR THE GRANTING OF A PROPERTY TAX CREDIT UNDER
PARAGRAPH (1) OF THIS SUBSECTION, 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 TAX CREDIT.

(C) IF THE GOVERNING BODY OF A COUNTY OR MUNICIPAL CORPORATION
GRANTS A PROPERTY TAX CREDIT UNDER SUBSECTION (A) OF THIS SECTION, IT MAY
NOT ALSO GRANT A PROPERTY TAX EXEMPTION UNDER § 7-501.3 OF THIS ARTICLE
FOR THE SAME BUILDING.

SECTION 2. AND BE IT FURTHER ENACTED, That the governing body of a
county or municipal corporation shall submit to the Maryland Department of
Assessments and Taxation a copy of any legislation enacted under the authority of
this Act.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1999.