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Ch. 151
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2000 LAWS OF MARYLAND
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(I) the potential transferee is a nonprofit organization as defined
in Article 83B, § 2-203(v) of the [Code.] CODE; AND
(II) THE MAYOR AND CITY COUNCIL RECEIVES AN AMOUNT EQUAL
TO ANY TAX BENEFIT TO BE DERIVED BY THE TRANSFEROR FROM THE TRANSFER;
AND
(III) THE TRANSFEROR'S TAX DEBT IS REDUCED BY AN AMOUNT
EQUAL TO WHAT THE MAYOR AND CITY COUNCIL WOULD RECEIVE IF THE
REQUIREMENT UNDER PARAGRAPH (1)(V) WERE NOT WAIVED.
(II) THE MAYOR AND THE CITY COUNCIL RECEIVES FROM THE
TRANSFEROR AN AMOUNT EQUAL TO ANY FEDERAL, STATE, OR LOCAL INCOME TAX
BENEFIT REALIZED BY THE TRANSFEROR AS A RESULT OF A DEDUCTION FROM
INCOME FOR A CHARITABLE CONTRIBUTION OF THE PROPERTY TO A NONPROFIT
ORGANIZATION.
(3) IF THE CONDITIONS IN PARAGRAPH (2) OF THIS SUBSECTION ARE
MET, THE TRANSFEROR'S PROPERTY TAX DEBT SHALL BE REDUCED BY AN AMOUNT
EQUAL TO THE FAIR MARKET VALUE OF THE TRANSFERRED PROPERTY.
[(3) (i) If more than one qualified person or entity competes for the real
property transfer, preference shall be given to the person or entity which will create
homeownership opportunities.
(ii) If more than one qualified person or entity competing for the
same property transfer will create homeownership opportunities, the Board shall
consider other factors in selecting a transferee.]
(c) The release of a lien for city real property taxes, charges, or assessments as
authorized under subsection (b) of this section [in no way limits the ability of the
Mayor and City Council of Baltimore City to seek enforcement of] DOES NOT ABATE
the TRANSFEROR'S liability [of the person responsible for the taxes, charges, or
assessments] FOR THE REMAINING AMOUNT OF THE TAX DEBT.
(d) The Board may set additional standards and requirements for approval of
the release of liens under this section.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2000.
Approved April 25, 2000.
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- 834 -
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