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H.B. 972
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VETOES
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(2) Subject to the limitation in paragraph (3) of this subsection, a taxing
jurisdiction may:
(i) vary the percentage of the additional property tax credit
granted under this subsection; and
(ii) establish additional eligibility criteria for any additional
property tax credit granted.
(3) The total additional property tax credit granted under this subsection
may not exceed an additional 20% of the remaining, property tax attributable to the
increase in the assessment of the qualified brownfields site including improvements
added to the site over the assessment of the qualified brownfields site before the
voluntary cleanup.
(e) (1) A credit under this section may not be calculated on an increase in
assessment due to the termination of a use value under §§ 8-209 through 8-217 or §§
8-220 through 8-225 of this article.
(2) If the qualified brownfields site on which the voluntary cleanup is
completed had a use value immediately before the cleanup,, the credit shall be
calculated on an assessment as if the parcel had been valued at market value.
(f) In a designated enterprise zone, a taxing jurisdiction may extend the tax
credit authorized under this section up to an additional 5 years.
(g) A proportional share of a taxing jurisdiction's contribution for each
qualified brownfields site to the [Brownfields Revitalization Incentive] MARYLAND
ECONOMIC DEVELOPMENT ASSISTANCE Fund under subsection (c)(2) of this section
shall be designated for financial incentives to be provided for qualified brownfields
sites in the jurisdiction making that contribution.
(h) A taxing jurisdiction shall terminate any property tax credit under this
section if:
(1) a person receiving a credit under this section withdraws from the
Voluntary Cleanup Program under § 7-512(a) or (b) of the Environment Article; or
(2) the Department of the Environment withdraws approval of a
response action plan, or a certificate of completion under § 7-512(e) and (f) of the
Environment Article.
Chapter 301 of the Acts of 1999
SECTION 4. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1999. [It shall remain effective for a period of 2 years and, at the end of June
30, 2001, with no further action required by the General Assembly, this Act shall be
abrogated and of no further force and effect.]
SECTION 3. AND BE IT FURTHER ENACTED, That Section(s) 6-301 through
6-312 and the subtitle "Subtitle 3. Child-Care Special Loan Fund", respectively, of
Article 83A—Department of Business and Economic Development of the Annotated
Code of Maryland be transferred to be Section(s)—4-301 through 4-312 and the
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- 4702 -
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