EXPLANATION: CAPITALS indicate matter added to existing law.
[Brackets] indicate matter deleted from existing law.
* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL
Introduced by: Councilmember Kraft
A BILL ENTITLED
AN ORDINANCE concerning
Title
Property Tax Credits - Energy Devices
FOR the purpose of granting a property tax credit for buildings for which certain energy devices have been installed; defining certain terms; imposing certain limitations; and generally relating to tax credits for qualifying energy devices.
Body
BY adding
Article 28 - Taxes
Section(s) 10-16
Baltimore City Code
(Edition 2000)
SECTION 1. BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF BALTIMORE, That the Laws of Baltimore City read as follows:
Baltimore City Code
Article 28. Taxes
Subtitle 10. Credits
§ 10-16. QUALIFIED ENERGY DEVICES.
(A) DEFINITIONS.
(1) IN GENERAL.
IN THIS SECTION, THE FOLLOWING TERMS HAVE THE MEANINGS INDICATED.
(2) DIRECTOR.
"DIRECTOR" MEANS THE DIRECTOR OF FINANCE OR DESIGNEE.
(3) QUALIFIED COSTS.
(I) "QUALIFIED COSTS" MEANS THE COSTS TO PURCHASE, ASSEMBLE, AND INSTALL A QUALIFIED ENERGY DEVICE.
(II) "QUALIFIED COSTS" INCLUDES COSTS OF ANY MATERIALS NEEDED FOR PURCHASE, INSTALLATION, AND CONNECTION OF THESE DEVICES.
(4) QUALIFIED ENERGY DEVICE.
(I) "QUALIFIED ENERGY DEVICE" MEANS, EXCEPT AS PROVIDED IN SUBPARAGRAPH (II) OF THIS PARAGRAPH, ANY:
(A) SOLAR PANEL THAT GENERATES ELECTRICITY FOR A BUILDING;
(B) SOLAR WATER-HEATING EQUIPMENT FOR A BUILDING; AND
(C) GEOTHERMAL ENERGY DEVICE FOR A BUILDING.
(II) "QUALIFIED ENERGY DEVICE" DOES NOT INCLUDE ANY DEVICE THAT IS USED, IN WHOLE OR IN PART, TO HEAT A SWIMMING POOL, HOT TUB, OR SIMILAR ACCESSORY.
(B) CREDIT GRANTED.
THERE IS ESTABLISHED A PROPERTY TAX CREDIT, AS AUTHORIZED IN STATE TAX-PROPERTY ARTICLE § 9-203, AGAINST THE PROPERTY TAX IMPOSED ON BUILDINGS FOR WHICH, ON OR AFTER JANUARY 1, 2008, A QUALIFIED ENERGY DEVICE HAS FIRST BEEN PLACED IN SERVICE.
(C) AMOUNT OF CREDIT; PHASE-IN.
(1) THE AGGREGATE TAX CREDIT GRANTED UNDER THIS SECTION FOR A SINGLE-FAMILY DWELLING EQUALS 1/3 OF THE QUALIFIED COSTS FOR A QUALIFIED ENERGY DEVICE, SUBJECT TO A MAXIMUM CREDIT OF $25,000.
(2) THE AGGREGATE TAX CREDIT GRANTED UNDER THIS SECTION FOR A MULTI-FAMILY DWELLING OR FOR A COMMERCIAL- OR INDUSTRIAL-USE BUILDING EQUALS _ OF THE QUALIFIED COSTS FOR A QUALIFIED ENERGY DEVICE, SUBJECT TO A MAXIMUM CREDIT OF $150,000.
(3) THE AGGREGATE TAX CREDIT SHALL BE APPLIED TO THE PROPERTY TAX IMPOSED ON THE REAL PROPERTY, AS FOLLOWS:
(I) 1/5 FOR THE 1ST TAXABLE YEAR IN WHICH THE PROPERTY QUALIFIES FOR THE TAX CREDIT;
(II) 1/5 FOR THE 2ND TAXABLE YEAR IN WHICH THE PROPERTY QUALIFIES FOR THE TAX CREDIT;
(III) 1/5 FOR THE 3RD TAXABLE YEAR IN WHICH THE PROPERTY QUALIFIES FOR THE TAX CREDIT;
(IV) 1/5 FOR THE 4TH TAXABLE YEAR IN WHICH THE PROPERTY QUALIFIES FOR THE TAX CREDIT; AND
(V) 1/5 FOR THE 5TH TAXABLE YEAR IN WHICH THE PROPERTY QUALIFIES FOR THE TAX CREDIT.
(D) ADMINISTRATION.
THE DIRECTOR OF FINANCE MAY:
(1) ADOPT RULES AND REGULATIONS NECESSARY OR APPROPRIATE TO IMPLEMENT THIS SECTION;
(2) SETTLE DISPUTED CLAIMS THAT MAY ARISE IN CONNECTION WITH THE CREDIT AUTHORIZED BY THIS SECTION; AND
(3) DELEGATE POWERS, DUTIES, OR FUNCTIONS IN CONNECTION WITH THE ADMINISTRATION OF THE CREDIT AUTHORIZED BY THIS SECTION TO THE CITY COLLECTOR OR ANY OTHER EMPLOYEE OF THE CITY.
(E) TERMINATION OF PROGRAM.
NO CREDIT MAY BE GRANTED UNDER THIS SECTION FOR ANY ENERGY DEVICE FIRST PLACED INTO SERVICE ON OR AFTER JANUARY 1, 2012.
SECTION 2. AND BE IT FURTHER ORDAINED, That the catchlines contained in this Ordinance are not law and may not be considered to have been enacted as a part of this or any prior Ordinance.
SECTION 3. AND BE IT FURTHER ORDAINED, That this Ordinance takes effect on the 30th day after the date it is enacted.
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