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Ch. 61
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2000 LAWS OF MARYLAND
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2. except as provided in item 3 of this item, for an economic
development project that was the subject of a payment in lieu of taxes agreement
prior to June 30, 1999, in accordance with FORMER § 7-504.1 of this subtitle AS
ENACTED BY CHAPTER 403 OF THE ACTS OF 1996, 5% of the Baltimore City real
property taxes related to the economic development project that would have otherwise
been due absent the agreement; or
3. for an economic development project for which a building
permit is issued prior to September 30, 1999, the taxes on the property before the
construction or rehabilitation of the project;
(ii) the term of the agreement, not to exceed 25 years from the date
a certificate of occupancy for the project is issued; and
(iii) that each year after the expiration of the agreement, full
property taxes shall be payable on the property; and
DRAFTER'S NOTE:
Error: Cross-reference to repealed section in § 7-504.3(a)(2) and
(b)(3)(i)2 of the Tax - Property Article.
Occurred: As a result of Chs. 527 and 643 of the Acts of 1999.
9-103.
(a) (6) (i) "Qualified property" means real property that is:
1. not used for residential purposes;
2. used in a trade or business by a business entity that meets
the requirements of Article 83A, § 5-404 of the Code; and
3. located in an enterprise zone that is designated under
Article 83A, § 5-402 of the Code.
(ii) "Qualified property" includes personal property [or] ON real
property that is located in a focus area as defined in Article 83A, § 5-401 of the Code.
DRAFTER'S NOTE:
Error: Incorrect word usage in § 9-103(a)(6)(ii) of the Tax - Property
Article.
Occurred: Ch. 467, Acts of 1999.
12-103.
(c) The recordation tax rate is 55 cents for an instrument of writing for
property that:
(1) is located in 2 or more counties; and
(2) is security for a corporate bond of a [public utility] PUBLIC SERVICE
COMPANY AS DEFINED IN § 1-101 OF THE PUBLIC UTILITY COMPANIES ARTICLE.
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- 568 -
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