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Session Laws, 2000
Volume 797, Page 3339   View pdf image
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PARRIS N. GLENDENING, Governor Ch. 648
(4) THE RURAL LEGACY BOARD SHALL MAINTAIN RECORDS
CONCERNING: (I) REAL PROPERTY FROM WHICH TRANSFERABLE DEVELOPMENT
RIGHTS ARE PURCHASED; AND (II) REAL PROPERTY TO WHICH RIGHTS ARE RESOLD AND TRANSFERRED. (5) THE COUNTY SHALL PROVIDE TO THE BOARD INFORMATION
RELATING TO THE RECORDS REQUIRED IN PARAGRAPH (4) OF THIS SUBSECTION. (5) (6) TRANSFERABLE DEVELOPMENT RIGHTS MAY BE RESOLD ONLY
TO OWNERS OR OPTION PURCHASERS OF REAL PROPERTY LOCATED IN PRIORITY
FUNDING AREAS, INCLUDING MUNICIPALITIES, WITHIN THE COUNTY IN WHICH THE
RIGHTS WERE PURCHASED. (6) (7) (I) THE BOARD SHALL DISTRIBUTE THE PROCEEDS
ASSOCIATED WITH THE RESALE OF TRANSFERABLE DEVELOPMENT RIGHTS SHALL
BE DISTRIBUTED ONLY AS DESCRIBED IN THIS PARAGRAPH. (II) FIFTY PERCENT OF THE PROCEEDS SHALL BE USED BY THE
PRINCIPAL LOCAL GOVERNMENT IN WHICH THE PRIORITY FUNDING AREA
DEVELOPMENT USING TRANSFERABLE DEVELOPMENT RIGHTS IS LOCATED TO FUND
LOCAL CAPITAL PROJECTS IN THE IMMEDIATE NEIGHBORHOOD COUNTY OR
MUNICIPAL CORPORATION WHICH IS RECEIVING TRANSFERABLE DEVELOPMENT
RIGHTS. FUNDS SHALL BE DISTRIBUTED TO THE MUNICIPAL CORPORATION IF THE
RECEIVING AREA IS WITHIN THE CORPORATE LIMITS OF A MUNICIPAL
CORPORATION. (III) FIFTY PERCENT OF THE PROCEEDS SHALL BE RETURNED TO
THE RURAL LEGACY PROGRAM FOR USE IN THE COUNTY IN WHICH THE PROCEEDS
WERE GENERATED. (IV) PROCEEDS MAY NOT BE USED FOR OPERATING EXPENSES. (k) All easement acquisitions must be recorded among the land records where
the real property is located. (1) State or local condemnation authority may not be used to acquire real
property interests under this Program. (m) Funds may be used for the protection of historic sites or significant
archeological areas that otherwise meet the goals of this Program only if the sponsor
is acquiring real property interests through a fee simple purchase. (n) A land or mineral owner who participates in this Program may reserve
mineral rights for extraction in accordance with applicable law and the terms of the
easement or fee acquisition. (O) IN ITS DETERMINATION UNDER SUBSECTION (C) OF THIS SECTION, THE
RURAL LEGACY BOARD MAY NOT MAKE ITS DETERMINATION SOLELY ON THE BASIS
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Session Laws, 2000
Volume 797, Page 3339   View pdf image
 Jump to  
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