1. (a) For any purpose stated in § 21-410(a)(1) of this subtitle, a municipality may:

   1. (1) establish a special taxing district;
   2. (2) impose ad valorem or special taxes; and
   3. (3) issue bonds.

2. (b)

   1. (1) For any purpose stated in § 21-410(a)(2) of this subtitle, a municipality may:

      1. (i) establish special taxing districts;
      2. (ii) impose ad valorem or special taxes; and

      3. (iii) pledge funds under an agreement to:

         1. 1. secure payment on MEDCO obligations;
         2. 2. pay the costs of infrastructure improvements located in or supporting a transit-oriented development or a State hospital redevelopment; and
         3. 3. pay the costs of operating and maintaining infrastructure improvements located in or supporting a transit-oriented development or a State hospital redevelopment.

   2. (2) An agreement pledging funds as described in paragraph (1)(iii) of this subsection shall:

      1. (i) be authorized by an ordinance or resolution of the municipality;
      2. (ii) be in writing;
      3. (iii) be executed on behalf of the municipality making the pledge, the Maryland Economic Development Corporation, and any other person or entity that the governing body of the municipality determines; and
      4. (iv) benefit, and be enforceable on behalf of, the holders of any MEDCO obligation secured by the agreement.

3. (c)

   1. (1) Notwithstanding any other provision of law, a municipality may establish a special taxing district, issue bonds, or impose an ad valorem or special tax under this part only if a request to the municipality is made by both:

      1. (i) the owners of at least two-thirds of the assessed valuation of the real property located in the special taxing district; and
      2. (ii) at least two-thirds of the owners of the real property located in the special taxing district.

   2. (2) For purposes of paragraph (1)(ii) of this subsection:

      1. (i) multiple owners of a single parcel are treated as a single owner; and
      2. (ii) a single owner of multiple parcels is treated as one owner.

Added by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013. Amended by Acts 2013, c. 624, § 1, eff. Oct. 1, 2013.