HARRY HUGHES, Governor

3251

BY repealing and reenacting, with amendments,

Article 81 - Revenue and Taxes
Section 19(b)(2) and 19(f)(6)
Annotated Code of Maryland
(1980 Replacement Volume)

BY adding to

Article 81 - Revenue and Taxes
Section 278F

Annotated Code of Maryland
(1980 Replacement Volume)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 81 - Revenue and Taxes

19.

(b) (2) [(A)] The following lands are not subject to
the provisions of paragraph (1):

(i) Land zoned for industrial,
commercial, or multifamily residential use as of July 1,
1972, if such zoning has been effected upon application or
at the instance of the owner or any former owner of the
land, or by any person who has or has previously had a
property interest therein; provided that this paragraph
shall not include an application for rezoning to correct an
acknowledged error in the original zoning.

(ii) Land which becomes zoned after
July 1, 1972, to a more intensive use than permitted on July
1, 1972, upon application or at the instance of the owner or
other person having a property interest therein from and
after the first day of the taxable year in which the
rezoning becomes effective.

(iii) Land subdivided into lots or
parcels after July 1, 1972, does not qualify under paragraph
(1), from and after the first day of the taxable year in
which the subdivision occurs; provided, however, that,
except for the dwelling house and homesite which shall be
assessed at fair market value, no parcel of 20 acres or more
conveyed to another party shall be disqualified solely as a
result of that conveyance. For the purposes of this section
"homesite" is defined as that area of land reasonably
related to the dwelling. The following subdivided land is
not disqualified under the provisions of this subparagraph
(iii):