Maryland Code, TAX – PROPERTY 9-252
Terms Used In Maryland Code, TAX - PROPERTY 9-252
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: means a county of the State or Baltimore City. See
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) owned by Habitat for Humanity with the intention of relinquishing ownership in the near future;
(2) used for the purposes of development, rehabilitation, and transfer to a private owner; and
(3) not occupied by administrative or warehouse buildings owned by Habitat for Humanity.
(b) If the Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation grants a property tax credit under this section, Habitat for Humanity shall submit an annual written report to the Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation granting the tax credit documenting:
(1) all of Habitat for Humanity’s real property holdings in the jurisdiction granting the tax credit; and
(2) all transactions involving Habitat for Humanity’s real property holdings in the jurisdiction granting the tax credit.
(c) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may, by law:
(1) set the amount, terms, scope, and duration of a credit granted under subsection (a) of this section; and
(2) adopt any other provision necessary to administer a credit granted under subsection (a) of this section.