|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PARRIS N. GLENDENING, Governor
|
|
|
|
|
|
Ch. 265
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BY repealing and reenacting, without amendments,
Article - Tax - General
Section 10-707
Annotated Code of Maryland
(1997 Replacement Volume and 1999 Supplement)
BY repealing and reenacting, with amendments,
Article - Tax — Property
Section 9-326
Annotated Code of Maryland
(1994 Replacement Volume and 1999 Supplement)
BY repealing and reenacting, with amendments,
Chapter 319 of the Acts of the General Assembly of 1999
Section 2
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Tax - General
10-707.
(a) An individual may claim a credit against the State income tax for a taxable
year in the amount specified in subsection (b) of this section for property tax paid in
that taxable year for owner-occupied, residential real property that is granted a
property tax credit under § 9-326 of the Tax - Property Article.
(b) The credit shall equal the amount of the property tax credit granted for
property tax paid under § 9-326 of the Tax - Property Article.
(c) If the credit allowed under this section in any taxable year exceeds the
State income tax for that taxable year, calculated before application of the credits
under this section and 10-701 and 10-701.1 of this subtitle, but after application of
the other credits allowable under this subtitle, the excess of the credit shall be
refunded.
Article - Tax - Property
9-326.
(a) The Mayor and City Council of Baltimore City and the governing body of
Baltimore County shall grant a property tax credit against the County property tax
imposed on owner-occupied, residential real property that:
(1) is purchased from July 1, 1996 through June 30, [2001, in a
geographic area of Baltimore City or Baltimore County that] 2002:
[(1)](I) in TWO GEOGRAPHIC AREAS A GEOGRAPHIC AREA OF
Baltimore City, THAT [contains] CONTAIN between:
|
|
|
|
|
|
|
|
|
|
- 1601 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
