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 - High-Performance Buildings
FOR the purpose of granting a property tax credit for certain high-performance buildings; defining certain terms; establishing certain conditions; imposing certain limitations; and generally relating to tax credits for qualifying high-performance buildings.
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. HIGH-PERFORMANCE BUILDINGS.
(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) HIGH-PERFORMANCE BUILDING.
"HIGH-PERFORMANCE BUILDING" MEANS A BUILDING THAT:
(I) ACHIEVES A SILVER RATING OR HIGHER, ACCORDING TO THE U.S. GREEN BUILDING COUNCIL'S LEED (LEADERSHIP IN ENERGY AND ENVIRONMENTAL DESIGN) GREEN BUILDING RATING SYSTEM, AS ADOPTED BY THE MARYLAND GREEN BUILDING COUNCIL;
(II) ACHIEVES AT LEAST A COMPARABLE RATING ACCORDING TO ANY OTHER APPROPRIATE RATING SYSTEM; OR
(III) MEETS COMPARABLE GREEN BUILDING GUIDELINES OR STANDARDS APPROVED BY THE STATE.
(B) CREDIT GRANTED.
THERE IS ESTABLISHED A PROPERTY TAX CREDIT, AS AUTHORIZED IN STATE TAX-PROPERTY ARTICLE § 9-242, AGAINST THE CITY PROPERTY TAX IMPOSED ON HIGH-PERFORMANCE BUILDINGS.
(C) AMOUNT OF CREDIT.
THE AMOUNT OF THE TAX CREDIT EQUALS 100% OF THE CITY PROPERTY TAX IMPOSED ON THE BUILDING.
(D) APPLICATION FOR CREDIT.
(1) THE PROPERTY OWNER MUST APPLY FOR THE TAX CREDIT WITHIN 180 DAYS AFTER THE START OF THE 1ST TAXABLE YEAR FOR WHICH THE CREDIT IS SOUGHT.
(2) THE APPLICATION MUST BE:
(I) SUBMITTED TO THE DIRECTOR, ON THE FORM THE DIRECTOR REQUIRES; AND
(II) ACCOMPANIED BY PROOF THAT THE PROPERTY MEETS THE REQUIRED STANDARDS FOR A HIGH-PERFORMANCE BUILDING.
(E) TERM OF CREDIT.
IF APPROVED, THE TAX CREDIT MAY BE TAKEN FOR EACH OF THE NEXT 10 TAXABLE YEARS.
(F) 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.
(G) TERMINATION OF PROGRAM.
APPLICATIONS FOR THIS TAX CREDIT MAY NOT BE ACCEPTED AFTER MARCH 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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