Maryland Code, ECONOMIC DEVELOPMENT 5-1304
Terms Used In Maryland Code, ECONOMIC DEVELOPMENT 5-1304
(2) The designation of an area as a BRAC Revitalization and Incentive Zone is effective for 10 years, beginning on the date the first property in the BRAC Revitalization and Incentive Zone becomes a qualified property, as defined in § 2-222 of the Tax – Property Article.
(3) The Secretary may not designate more than six BRAC Revitalization and Incentive Zones in a calendar year.
(4) A county may not receive more than two BRAC Revitalization and Incentive Zones.
(5) The precise location and boundaries of a BRAC Revitalization and Incentive Zone may be determined only on application to and approval by the Secretary.
(b) The designation of the Secretary is final.
(c) At any time, a political subdivision may reapply to the Secretary to designate as a BRAC Revitalization and Incentive Zone an area that is not designated.
(d) (1) This subsection applies only to a political subdivision that is authorized under § 7-211.3 of the Tax – Property Article to enter into a payment in lieu of tax agreement with a private developer for federal enclave property.
(2) The Secretary may not designate a BRAC Revitalization and Incentive Zone in a county until, in the judgment of the Secretary, the political subdivision has entered into good faith negotiations for a payment in lieu of tax agreement with all private developers of federal enclave property.