(a) Definitions. In this Section the following words have the meanings indicated:
(1) “Covered building” means a newly constructed or extensively modified non- residential or multi-family residential building that has or will have at least 10,000 square feet of gross floor area.
(2) “Extensively modified” means any structural modification which alters more than 50% of the building’s gross floor area, as indicated on the application for a building permit. Extensively modified does not include any modification that is limited to one or more of the following building systems: mechanical; electrical; plumbing; heating, ventilation, and air conditioning (HVAC); and fire protection.
(3) “High performance building” means:
(A) A covered building that achieves:
(1) A gold or platinum rating from the USGBC for LEED-NC, LEED-CS, or LEED-EB; or
(2) An energy and environmental design standard that the Director of the Department of Permitting Services finds is equivalent to a gold or platinum rating from the USGBC for LEED-NC, LEED- CS, or LEED-EB; and
(B) Any other building that achieves:
(1) A silver, gold, or platinum rating from the USGBC for LEED- NC, LEED-CS, or LEED-EB; or
(2) An energy and environmental design standard that the Director of the Department of Permitting Services finds is equivalent to the silver, gold or platinum rating from the USGBC for LEED- NC, LEED-CS, or LEED-EB.
(4) “LEED-CS” means the Leadership in Energy and Environmental Design - Core and Shell rating system administered by the USGBC.
(5) “LEED-EB” means the Leadership in Energy and Environmental Design - Existing Building rating system administered by the USGBC.
(6) “LEED-NC” means the Leadership in Energy and Environmental Design - New Construction rating system administered by the USGBC.
(7) “Property tax” means the general County tax and all special service area taxes.
(8) “USGBC” means the US Green Building Council.
(b) Credit. Subject to the restrictions in subsections (c), (d), and (e), the Director of the Department of Finance must allow a tax credit each eligible year against the property tax imposed on a high performance building.
(c) Application. A taxpayer must apply for the credit within 1 year after the building is certified as a high performance building.
(1) For a covered building, the amount of the credit is:
(A) 25% of the property tax owed on the building for 5 years, if the building achieves a gold rating for LEED-NC or LEED-CS or an equivalent standards;
(B) 75% of the property tax owed on the building for 5 years, if the building achieves a platinum rating for LEED-NC or LEED-CS or an equivalent standard;
(C) 10% of the property tax owed on the building for 3 years, if the building achieves the gold rating for LEED-EB or an equivalent standard; or
(D) 50% of the property tax owed on the building for 3 years, if the building achieves the platinum rating for LEED-EB or an equivalent standard.
(2) For any other building, the amount of the credit is:
(A) 25% of the property tax owed on the building for 5 years, if the building achieves a silver rating for LEED-NC or LEED-CS or an equivalent standard;
(B) 50% of the property tax owed on the building for 5 years, if the building achieves a gold rating for LEED-NC or LEED-CS or an equivalent standard;
(C) 75% of the property tax owed on the building for 5 years, if the building achieves a platinum rating for LEED-NC or LEED-CS or an equivalent standard;
(D) 10% of the property tax owed on the building for 3 years, if the building achieves the silver rating for LEED-EB or an equivalent standard;
(E) 25% of the property tax owed on the building for 3 years, if the building achieves the gold rating for LEED-EB or an equivalent standard; and
(F) 50% of the property tax owed on the building for 3 years, if the building achieves the platinum rating for LEED-EB or an equivalent standard.
(1) Subject to the annual limits in paragraph (2) and the carryover rules in paragraph (3), the Director must grant credits in the order in which the Department of Finance receives complete applications.
(2) During any fiscal year the total credits granted to:
(A) All buildings under this Section must not exceed $5 million.
(B) Buildings that achieve a silver rating or equivalent standard must not exceed $1.5 million; and
(C) Buildings that achieve a gold rating or equivalent standard must not exceed $2.5 million.
(3) A complete application that, if granted, would cause any of the limits set in paragraph (2) to be exceeded, must be granted in the next fiscal year or years based on the order in which the Department of Finance received the application.
(f) Regulations. The County Executive may issue regulations under method (2) to administer this tax credit. (, § 1; , § 1; , § 2; , §3.)
Editor’s note—2007 L.M.C., ch. 20, § 2, states: Applicability. Section 52-18Q, as added by Section 2 of this Act, applies to any building which is certified as a high performance building after the Act takes effect [Effective Date: March 17, 2008].
