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§ 1-1105. Surcharge required

West's Annotated Code of MarylandLocal GovernmentEffective: October 1, 2021

West's Annotated Code of Maryland
Local Government (Refs & Annos)
Division I. Definitions; General Provisions [Titles 1-3] (Refs & Annos)
Title 1. Definitions; General Provisions (Refs & Annos)
Subtitle 11. Clean Energy Loan Programs (Refs & Annos)
Effective: October 1, 2021
MD Code, Local Government, § 1-1105
Formerly cited as MD CODE, Art. 24, § 9-1502
§ 1-1105. Surcharge required
Currentness
In general
(a) Subject to subsection (c) of this section, a program shall require a property owner to repay a loan provided under the program through a surcharge on the owner's property tax bill.
Limit on surcharge
(b) Except for a surcharge authorized under subsection (c) of this section, a county or municipality may not set a surcharge greater than an amount that allows the county or municipality to recover the costs associated with:
(1) issuing bonds to finance the loan; and
(2) administering the program.
Collection of loan payments and costs
(c) With the express consent of any holder of a mortgage or deed of trust on a commercial property that is to be financed through a loan to the commercial property owner under the program:
(1) a county or municipality may collect loan payments owed to a private lender or to the county or the municipality for a loan to a commercial property owner, and costs associated with administering the program, through a surcharge on the property owner's property tax bill;
(2) an unpaid surcharge under this subsection shall be, until paid, a lien on the real property on which it is imposed from the date it becomes payable; and
(3) the provisions of Title 14, Subtitle 8 of the Tax--Property Article that apply to a tax lien shall also apply to a lien created under this subsection.
Obligation to pay surcharge
(d) A person who acquires property subject to a surcharge under this section assumes the obligation to pay the surcharge.

Credits

Added by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013. Amended by Acts 2014, c. 472, § 1, eff. Oct. 1, 2014; Acts 2014, c. 473, § 1, eff. Oct. 1, 2014; Acts 2021, c. 441, § 1, eff. Oct. 1, 2021.
MD Code, Local Government, § 1-1105, MD LOCAL GOVT § 1-1105
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document