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Martin O'Malley, Governor
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Ch. 209
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operate the limited liability company or limited liability partnership and who shares
the assets and earnings of the limited liability company or limited liability partnership
under an operating agreement under § 4A-402 of the Corporations and Associations
Article or under a partnership agreement.
(8) "FAMILY CORPORATION" MEANS A CORPORATION THAT DOES
NOT HAVE ANY STOCKHOLDERS OTHER THAN THE HOMEOWNER AND THE
FOLLOWING MEMBERS OF THE HOMEOWNER'S FAMILY:
(I) A SPOUSE OR FORMER SPOUSE;
(II) A CHILD OR STEPCHILD;
(III) A PARENT OR STEPPARENT;
(IV) A BROTHER OR SISTER;
(V) A SON-IN-LAW, DAUGHTER-IN-LAW, STEPSON-IN-LAW,
OR STEPDAUGHTER-IN-LAW;
(VI) A GRANDCHILD OR STEPGRAND CHILD; OR
(VII) A GRANDPARENT OR STEPGRANDPARENT.
(c) (4) (i) For a homeowner who is an active member of an agricultural
[limited liability] OWNERSHIP entity to qualify for the property tax credit under this
section:
1. the dwelling must have been owned and occupied by
the active member:
A. at the time of its transfer to the agricultural [limited
liability] OWNERSHIP entity; or
B. if the agricultural [limited liability] OWNERSHIP
entity is a limited liability company and the dwelling was originally transferred to the
agricultural [limited liability] ownership entity as part of a conversion from a
partnership under § 4A-211 of the Corporations and Associations Article, then at the
time of its transfer to the former partnership; and
2. the agricultural [limited liability] OWNERSHIP entity
and the active member who occupies the dwelling must file an application with the
Department establishing initial eligibility for the credit on or before June 30 for the
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- 1509 -
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