Ch. 76                                     2004 LAWS OF MARYLAND

(III) THE DIRECTOR SHALL ESTABLISH A COMPETITIVE AWARD
PROCESS THAT:

1. ENSURES TAX CREDITS ARE ALLOCATED IN A MANNER
THAT REFLECTS THE GEOGRAPHIC DIVERSITY OF THE STATE;

2. FAVORS THE ALLOCATION OF TAX CREDITS FOR
REHABILITATION PROJECTS THAT ARE CONSISTENT WITH AND PROMOTE CURRENT
GROWTH AND DEVELOPMENT POLICIES AND PROGRAMS OF THE STATE; AND

3. A. FAVORS THE ALLOCATION OF TAX CREDITS FOR
STRUCTURES THAT ARE LISTED IN THE NATIONAL REGISTER OF HISTORIC PLACES
OR ARE DESIGNATED AS HISTORIC PROPERTIES UNDER LOCAL LAW AND
DETERMINED BY THE DIRECTOR TO BE ELIGIBLE FOR LISTING IN THE NATIONAL
REGISTER OF HISTORIC PLACES; OR

B. FAVORS THE ALLOCATION OF TAX CREDITS FOR
STRUCTURES THAT ARE CONTRIBUTING BUILDINGS WITH HISTORIC SIGNIFICANCE
AND ARE LOCATED IN HISTORIC DISTRICTS LISTED IN THE NATIONAL REGISTER OF
HISTORIC PLACES.

(4) If a person submits a proposed rehabilitation plan that is not
approved in a calendar year as provided under this section, the person may reapply in
the next calendar year.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 2004.

SECTION 3. AND BE IT FURTHER ENACTED, That:

(a)     Article 83B, § 5-801 of the Code, as enacted by Section 1 of this Act, shall
be applicable to:

(1)     any project for rehabilitation of a single-family, owner-occupied
residence for which an application for approval of a plan of proposed rehabilitation is
received by the Director of the Historical Trust on or after Juno 1, 2001' July 1, 2004;
and

(2)     any commercial rehabilitation project for which an application of a
plan of proposed rehabilitation is approved by the Director on or after January 1,
2005.

(b)     Former Article 83B, § 5-801 of the Code, as amended and transferred to
the Session Laws by Section 2 of this Act, shall continue to be applicable to:

(1)     any project for rehabilitation of a single-family, owner-occupied
residence for which an application for approval of a plan of proposed rehabilitation
was received by the Director of the Historical Trust on or before May 31, 2004 June

30,  2004; and

(2)     any commercial rehabilitation project for which an application of a
plan of proposed rehabilitation has been approved by the Director on or before May

31, 2004 June 30, 2004.

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