§ 7-515. Video lottery facility in Allegany County.

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   (a) In general. -- The governing body of Allegany County shall enter into an agreement with an owner or operator of a video lottery facility that locates in Allegany County for a negotiated payment in lieu of taxes on the video lottery facility.

(b) Conditions. -- An agreement for a negotiated payment in lieu of taxes under this section shall provide that, for the term specified in the agreement:

   (1) a specified amount shall be paid to Allegany County in lieu of the payment of Allegany County property tax; and

   (2) all or a specified part of the real and personal property at the video lottery facility shall be exempt from Allegany County property tax for the term of the agreement.

HISTORY: 2007 Sp. Sess., ch. 4.

                    
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