Expedited Bill No. ____==---'-"'---­
Concerning: Taxes - Transportation
Impact Tax - Credits - Amendments
Revised: 10-21-10
Draft No. _1_
Introduced:
October 26. 2010
Enacted:
November 23. 2010
Executive:
December 6. 2010
Effective:
December 6, 2010
Sunset Date: November 1, 2015
ChI
~,
Laws of Mont. Co.
2010
COUNTY COUNCIL
FOR MONTGOMERY COUNTY, MARYLAND
By: Councilmembers Knapp and EIrich
AN EXPEDITED ACT
to:
(1)
modify the credits that apply to the transportation impact tax; and
(2)
generally amend County law regarding impact taxes.
By amending
Montgomery County Code
Chapter 52, Taxation
Section 52-55
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Heading or defined term.
Added to existing law
by
original
bill.
Deletedfrom existing law
by
original
bill.
Added
by
amendment.
Deletedfrom existing law or the bill by amendment.
Existing law unaffected by bill.
The County Council for Montgomery County, Maryland approves the following Act:
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EXPEDITED BILL
NO.55-10
1
Sec.
1.
Section 52-55 is amended as follows:
52-55.
(a)
(2)
Credits.
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[Any credit that was certified before July 1, 2002, for an entity
that received more than $20 million in credits under this
subsection may be applied to satisfy up to $2 million worth of
obligations under Policy Area Mobility Review or any successor
policy area transportation test,
in
addition to impact taxes. This
paragraph is not effective after October 31,2015.]
(A) An entity that received more than $20 million
in
credits
under this subsection that were certified before July
L
2002, may apply any unused credit to satisfy an obligation
under Policy Area Mobility Review, or any applicable
successor policy area transportation test, if:
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the County Executive has identified the project for
which
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credit would be applied under this
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paragraph as
project; and
strategic economic development
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(ii) the credit is used before November
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2015.
lID
The total of any credits used under this paragraph to satisfy
an obligation under Policy Area Mobility Review, or any
applicable successor policy area transportation test, must
not exceed $1.7 million.
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Sec. 2. Expedited Effective Date.
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IS
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The Council declares that this legislation
necessary for the immediate
protection of the public interest. This Act takes effect on the date when it becomes
law.
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EXPEDITED
BILL
NO.55-1
a
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Approved:
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Nancy Floreen, Presld nt, County CouncIl
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11/2.3/10
3ate
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Approved:
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Isiah Le gett, County Executive'
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This is a correct copy ofCouncil action.
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Date
Linda M. Lauer, Clerk of the Council
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