2004

LAWS OF MARYLAND

Ch. 725

FOR the purpose of stating the intention of the General
Assembly in adopting the 1975 circuit breaker law
with regard to its effect on elderly and disabled
taxpayers who received tax credits in the prior
year; providing for the scope and manner of
determining the hold harmless provisions applicable
to persons receiving tax credits under the laws in
effect in the 1974—1975 taxable year and providing
for the cost of this guarantee; authorizing review
and redeterminations of certain taxes owed for the
1975-1976 taxable year, providing for refunds or
rebates of taxes due in this year and for appeals
from these determinations; and correcting aspects of
the scope and effect of the 1975 circuit breaker
property tax relief law.

BY repealing

Article 81 — Revenue and Taxes

Section 12F-2

Annotated Code of Maryland

(1975 Replacement Volume and 1975 Supplement)

BY adding to

Article 81 - Revenue and Taxes

Section 12F-2

Annotated Code of Maryland

(1975 Replacement Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 12F-2 of Article 81 - Revenue and
Taxes, of the Annotated Code of Maryland (1975
Replacement Volume and 1975 Supplement) be and it is
hereby repealed:

Article 81 — Revenue and Taxes

12F-2.

[(a) Beginning with the 1975—1976 taxable year and
each year thereafter, if the credit authorized under §
12F-1 of this article is less than the credit, including
municipal tax credits, if any, which was received in the
1974-1975 taxable year, the homeowner shall receive a
credit equal to the credit received in the 1974—1975
taxable year.

(b) The State shall reimburse the counties and
Baltimore City only for the amount the homeowner would
have received under § 12F—1 of this article. The cost of
any additional credit provided to the taxpayer shall be
funded by the counties, Baltimore City, or municipal
corporation, as appropriate. The procedure for State
reimbursement shall be as provided in § 12F—1 of this