[Adopted 6-5-2001]
[Amended 11-13-2012 by Ord. No. 2012-12]
Pursuant to the authorization contained in § 9-229
of the Tax-Property Article of the Annotated Code of Maryland, Cecil
County hereby elects to participate in the Brownfields Revitalization
Incentive Program established pursuant to § 5-335 et seq.
of the Economic Development Article of the Annotated Code of Maryland
and to provide a brownfields property tax credit commencing with the
taxable year beginning July 1, 2002.
[Amended 11-13-2012 by Ord. No. 2012-12]
Cecil County hereby grants a brownfields property tax credit
against the tax on real property of a qualified brownfields site as
defined in § 5-335 et seq. of the Economic Development Article
of the Annotated Code of Maryland in an amount equal to 50% of the
property tax attributable to the increase in the assessment of the
qualified brownfields site, including improvements added to the site
during the credit period, over the assessment of the qualified brownfields
site before the voluntary cleanup or corrective action plan.
The credit shall apply in each of the five taxable years immediately
following the first revaluation of the property after completion of
a voluntary cleanup or corrective action plan of a qualified brownfields
site.
The credit is subject to the requirements and limitations set
forth in § 9-229 of the Tax-Property Article of the Annotated
Code of Maryland, including, but not limited to, the fact that said
credit shall terminate if the party receiving the credit withdraws
from the voluntary cleanup program under § 7-512 of the
Environment Article of the Annotated Code of Maryland, or the Department
of the Environment of the State of Maryland withdraws approval of
a response action plan, or a certificate of completion under § 7-512
of the Environment Article of the Annotated Code of Maryland.
[Amended 11-13-2012 by Ord. No. 2012-12]
Pursuant to the requirement contained in § 9-229(c)(2)
of the Tax-Property Article of the Maryland Code, for each year of
the credit period, Cecil County shall contribute to the Brownfields
Revitalization Incentive Program established pursuant to § 5-335
et seq. of the Economic Development Article of the Annotated Code
of Maryland an amount equal to 30% of the property tax attributable
to the increase in the assessment of the qualified brownfields site
during the credit period, over the assessment of the qualified brownfields
site before the voluntary cleanup or corrective action plan.
[Amended 11-13-2012 by Ord. No. 2012-12]
Notwithstanding § 337-13 of this article, for a site located in an enterprise zone and designated under § 5-701 et seq. of the Economic Development Article of the Annotated Code of Maryland, the credit shall apply in each of the 10 taxable years immediately following the revaluation of the property after completion of a voluntary cleanup or corrective action plan of a qualified brownfields site; provided, however, that the contribution to the Brownfields Revitalization Incentive Fund shall only be provided for the first five years of said credit period notwithstanding any other language in this section to the contrary.
