1. (a) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may grant, by law, a property tax credit for up to 50% of the county or municipal corporation property tax imposed on personal property that is:

   1. (1) not operating property of a railroad or public utility; and

   2. (2) owned or leased by a business entity that:

      1. (i) has been in operation for no more than 2 years; or
      2. (ii) has no more than 15 employees.

2. (b) The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may provide, by law, for:

   1. (1) the amount and duration of the tax credit under this section;
   2. (2) additional eligibility criteria for the tax credit under this section;
   3. (3) regulations and procedures for the application and uniform processing of requests for the tax credit; and
   4. (4) any other provision necessary to carry out the tax credit under this section.

Added by Acts 2016, c. 473, § 1, eff. July 1, 2016.