Md. Code, Local Government § 16–504

(a) If on or before January 1, 2020, the Federal Nuclear Regulatory

Commission license for the Calvert Cliffs Nuclear Power Plant expires and is not

extended or renewed, for each of the 5 taxable years following the expiration, the

State shall pay as a grant to Calvert County an amount equal to the applicable

percentage, specified in subsection (b) of this section, of the difference between:

(1) the product of multiplying $14,554,000 times the percentage

specified for the taxable year under § 7–237(b) of the Tax – Property Article; and

(2) the sum of:

(i) $2,000,000; and

(ii) the county’s property tax revenue for the taxable year

derived from personal property that is machinery or equipment used to generate

electricity for sale.

(b) For purposes of determining the amount of a grant provided under

subsection (a) of this section, the applicable percentage is:

(1) 100% for the first taxable year;

(2) 80% for the second taxable year;

(3) 60% for the third taxable year;

(4) 40% for the fourth taxable year; and

(5) 20% for the fifth taxable year.

(c) For each taxable year for which a grant is provided under subsection (a)

of this section, the Department of Assessments and Taxation shall determine and

certify to the Comptroller Calvert County’s property tax revenue for the taxable year

that is derived from personal property that is machinery or equipment used to

generate electricity for sale.

(d) The Comptroller shall pay to Calvert County the amount specified in

subsection (a)(1) of this section in equal payments, at the end of each quarter of each

taxable year for which a grant is payable.