Md. Code, Tax - Property § 9–234

(a) The governing body of a county or municipal corporation may grant, by law, a property tax credit under this section against the county or municipal corporation property tax imposed on real property containing a vacant or underutilized commercial building that:

(1) was built primarily for office, industrial, or other commercial purposes;

(2) was last used for office, industrial, or other commercial purposes; and

(3) is renovated for use primarily as housing.

(b) The governing body of a county or municipal corporation may establish conditions for the granting of a property tax credit under paragraph (1) of this subsection, including:

(1) eligibility criteria;

(2) application procedures; and

(3) provisions for a payment in lieu of taxes to the county or municipal corporation by the recipient of the tax credit.