EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
*sb0769*
SENATE BILL 769
Q2 4lr3432
CF HB 740
By: Frederick County Senators
Introduced and read first time: February 1, 2024
Assigned to: Budget and Taxation
Committee Report: Favorable
Senate action: Adopted
Read second time: February 26, 2024
CHAPTER ______
AN ACT concerning 1
Frederick County – Property Tax Credit for Property Located in Historic 2
District – Alterations 3
FOR the purpose of repealing certain requirements for the amount and duration of a tax 4
credit against the property tax imposed on certain improved real property owned by 5
a certain civic association and located in a historic district in Frederick County; 6
authorizing the governing body of Frederick County to provide, by law, for the 7
amount and duration of the credit and certain other matters relating to the credit; 8
and generally relating to a property tax credit in Frederick County for real property 9
located in a historic district. 10
BY repealing and reenacting, with amendments, 11
Article – Tax – Property 12
Section 9–312(b) 13
Annotated Code of Maryland 14
(2019 Replacement Volume and 2023 Supplement) 15
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 16
That the Laws of Maryland read as follows: 17
Article – Tax – Property 18
9–312. 19
(b) (1) The governing body of Frederick County shall grant a property tax 20 2 SENATE BILL 769
credit under this section against the county tax imposed on: 1
(i) real property that is owned by the Emmitsburg Civic Association, 2
Incorporated; and 3
(ii) real property on which an improvement is made to an existing 4
structure that is located in a historic district. 5
(2) [A property tax credit granted under paragraph (1)(ii) of this subsection 6
shall be: 7
(i) the following percentage of the increase that is due to the 8
improvement: 9
1. 100% of the increase in the assessment of the real property 10
in the 1st and 2nd taxable years that the improved structure is subject to the county 11
property tax; 12
2. 80% of the increase in the assessment of the real property 13
in the 3rd taxable year that the improved structure is subject to the county property tax; 14
3. 60% of the increase in the assessment of the real property 15
in the 4th taxable year that the improved structure is subject to the county property tax; 16
and 17
4. 40% of the increase in the assessment of the real property 18
in the 5th taxable year that the structure is subject to the county property tax; and 19
(ii) ended after the 5th taxable year that the improved structure is 20
subject to county property tax] THE GOVERNING BODY OF FREDERICK COUNTY MAY 21
PROVIDE, BY LAW, FOR: 22
(I) THE AMOUNT AND DURAT ION OF THE TAX CREDI T UNDER 23
THIS SUBSECTION ; 24
(II) ADDITIONAL ELIGIBILI TY CRITERIA FOR THE TAX CREDIT 25
UNDER THIS SUBSECTIO N; 26
(III) REGULATIONS AND PROC EDURES FOR THE APPLI CATION 27
AND UNIFORM PROCESSI NG OF REQUESTS FOR T HE TAX CREDIT; AND 28
(IV) ANY OTHER PROVISION NECESSARY TO CARRY O UT THE 29
CREDIT UNDER THIS SU BSECTION. 30
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect June 31
1, 2024, and shall be applicable to all taxable years beginning after June 30, 2024. 32