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2007 Laws of Maryland
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Ch. 559
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governing body of a county or of a municipal corporation to grant, by law, a tax
credit against a county or municipal corporation property taxes for certain
property purchased by certain owners of certain property that is acquired for
public use; providing for the computation and duration of the credit; requiring
the State Department of Assessments and Taxation to adopt certain
regulations; authorizing the county or municipal corporation to provide, by law,
for the amount and duration of the credit, subject to certain limitations:
authorizing the county or municipal corporation to provide, by law, for certain
provisions necessary to carry out this Act; defining certain terms; providing for
the application of this Act; and generally relating to a property tax credit for
certain property purchased by certain owners of certain property acquired for
public use.
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BY adding to
Article - Tax - Property
Section 9-119 9-246
Annotated Code of Maryland
(2001 Replacement Volume and 2006 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
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Article - Tax - Property
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9-119. 9-246.
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(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.
(2) "ACQUIRED DWELLING" MEANS A DWELLING:
(I) THAT WAS OWNED BY A QUALIFIED DISPLACED
HOMEOWNER;
(II) THAT BY NEGOTIATION OR CONDEMNATION WAS
ACQUIRED FROM THE QUALIFIED DISPLACED HOMEOWNER FOR PUBLIC USE BY
THE STATE OR A POLITICAL SUBDIVISION OR INSTRUMENTALITY OF THE STATE,
WHERE THE ACQUIRING AGENCY HAD THE POWER TO ACQUIRE THE DWELLING
FOR PUBLIC USE BY CONDEMNATION; AND
(III) FOR WHICH THE QUALIFIED DISPLACED HOMEOWNER
WAS ELIGIBLE FOR A CREDIT UNDER § 9-105 OF THIS SUBTITLE FOR THE
TAXABLE YEAR IN WHICH THE DWELLING WAS ACQUIRED FOR PUBLIC USE.
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- 3638 -
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