1. (a) By resolution, the governing body of a municipality:

   1. (1) may designate an area as a special taxing district; and
   2. (2) shall create a special fund with respect to the special taxing district.

2. (b) A resolution creating a special fund under subsection (a) of this section shall:

   1. (1) pledge to the special fund the proceeds of the ad valorem or special tax to be imposed as provided under § 21-414 of this subtitle; and
   2. (2) require that the proceeds from the tax be paid into the special fund.

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