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PARRIS N. GLENDENING, Governor Ch. 493
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(h) Each governing body that grants a property tax credit under this section
shall submit to the Department a copy of the law granting the credit.
(I) (1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS SUBSECTION, TO
THE EXTENT THAT A COUNTY GRANTS A TAX CREDIT UNDER THIS SECTION FOR
MANUFACTURING PERSONAL PROPERTY DESCRIBED IN § 7-225 OF THIS ARTICLE,
THE PROPERTY MAY NOT BE TREATED AS TAXABLE PROPERTY FOR THE PURPOSE OF
COMPUTING ANY PAYMENTS OF STATE AID TO EDUCATION UNDER § 5-202 OF THE
EDUCATION ARTICLE OR OTHER PAYMENTS OF STATE AID TO COUNTIES OR
MUNICIPAL CORPORATIONS THAT BY LAW ARE BASED ON THE ASSESSMENT OF
PROPERTY.
(2) PARAGRAPH (1) OF THIS SUBSECTION DOES NOT APPLY TO ANY
MANUFACTURING PERSONAL PROPERTY UNLESS THE COUNTY THAT GRANTS A TAX
CREDIT UNDER THIS SECTION FOR THE PROPERTY SUBMITS TO THE DEPARTMENT,
ON OR BEFORE OCTOBER 31 OF THE TAXABLE YEAR FOR WHICH THE CREDIT IS
GRANTED:
(I) THE INFORMATION REQUIRED UNDER § 9-201(B) OF THIS
SUBTITLE REGARDING THE TAX CREDIT; AND
(II) AN ITEMIZED LIST OF THE PROPERTY TAX CREDITS GRANTED
FOR PROPERTY.
9-302.
(i) (1) The governing body of Allegany County may grant a county property
tax credit or exemption for machinery and equipment used in manufacturing,
assembling, processing, or refining products for sale or in the generation of electricity
and may define, fix, or limit the amount, terms, scope, and duration of any credit or
exemption provided for or affirmed under this subsection.
(2) TO THE EXTENT THAT A TAX CREDIT OR EXEMPTION IS GRANTED
UNDER THIS SUBSECTION FOR MACHINERY AND EQUIPMENT USED IN
MANUFACTURING, ASSEMBLING, PROCESSING, OR REFINING PRODUCTS FOR SALE,
THE PROPERTY MAY NOT BE TREATED AS TAXABLE PERSONAL PROPERTY FOR THE
PURPOSE OF COMPUTING ANY PAYMENTS OF STATE AID TO EDUCATION UNDER §
5-202 OF THE EDUCATION ARTICLE OR OTHER PAYMENTS OF STATE AID TO
COUNTIES OR MUNICIPAL CORPORATIONS THAT BY LAW ARE BASED ON THE
ASSESSMENT OF PROPERTY
(3) TO THE EXTENT THAT A TAX CREDIT OR EXEMPTION IS GRANTED
UNDER THIS SUBSECTION FOR MACHINERY AND EQUIPMENT THAT IS USED IN THE
GENERATION OF ELECTRICITY FOR A FACILITY THAT STARTED GENERATING
ELECTRICITY PRIOR TO JUNE 1, 2000, THE PROPERTY MAY NOT BE TREATED AS
TAXABLE PERSONAL PROPERTY FOR THE PURPOSE OF COMPUTING ANY PAYMENTS
OF STATE AID TO EDUCATION UNDER § 5-202 OF THE EDUCATION ARTICLE OR OTHER
PAYMENTS OF STATE AID TO COUNTIES OR MUNICIPAL CORPORATIONS THAT BY LAW
ARE BASED ON THE ASSESSMENT OF PROPERTY.
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