In this section, the following terms have the meanings indicated. Dwelling. “Dwelling” has the meaning stated in <cite data-doc="Md. Code" data-path="gtp|9-105">State Tax-Property Article § 9-105 </cite>{“Homestead Tax Credit”}. “Finance Director” means the Director of the City Department of Finance or the Director’s designee. “Homeowner” has the meaning stated in <cite data-doc="Md. Code" data-path="gtp|9-105">State Tax-Property Article § 9-105 </cite>{“Homestead Tax Credit”}. “Homestead dwelling” means a dwelling that is:located in Baltimore City; owned by and used as the principal residence of a low-income employee; and otherwise eligible for the tax credit authorized by <cite data-doc="Md. Code" data-path="gtp|9-105">State Tax-Property Article § 9-105 </cite>{“Homestead Tax Credit”}. “Low-income employee” means an individual who:is employed full-time by the City of Baltimore; is among the 25% lowest-paid, full-time Baltimore City employees; and owns a dwelling located in Baltimore City. In accordance with <cite data-doc="Md. Code" data-path="gtp|9-304">State Tax-Property Article § 9-304(k), </cite>a real property tax credit is granted against the City property tax imposed on the homestead dwelling of a low-income employee. In any taxable year, the amount of the credit granted to a homestead dwelling under this section is the lesser of:$2,500; and the amount of the property tax imposed on the building. In any taxable year for which a property receives a credit granted under this section, the property may not receive any other property tax credit provided by Baltimore City except:the local portion of the credit authorized by <cite data-doc="Md. Code" data-path="gtp|9-105">State Tax-Property Article § 9-105 </cite>{“Homestead tax credit”}; and the credit authorized by <cite data-doc="Md. Code" data-path="gtp|9-221">State Tax-Property Article § 9-221 </cite>{“Offsetting income tax rates”}. To determine whether an individual qualifies as a low-income employee as defined by this section, the Finance Department, in consultation with the Department of Human Resources, shall use an individual’s annual rate of pay for the calendar year most recently completed prior to the tax year for which the credit is sought. The Finance Department shall notify employees that their income may qualify them for the tax credit authorized by this subtitle no later than January 30 of the tax year. In addition to meeting the other requirements provided in this section, to be eligible for a tax credit under this section, the low-income employee must, as of the March 31 of the calendar year in which the application is filed:have been continuously employed with the City for the preceding 9 months; have worked a minimum of 1,125 hours during that time; and have been classified as a regular, full-time employee by the Department of Human Resources. A low-income employee seeking to obtain and annually maintain a credit under this section must file with the Finance Director an application for the credit. The application must be filed with the Finance Director on or after February 1 preceding the tax year for which the credit is sought but no later than March 31 of that tax year. The application must be in the form and contain the information that the Finance Director requires and shall include a verification that:the homeowner is a regular, full-time City employee; and the property is:used as the low-income employee’s principal residence; and otherwise eligible for the tax credit authorized by this section. The credit granted under this section continues from tax year to tax year, subject to compliance with the annual verification requirements of subsection (g) of this section. The Finance Director:shall, subject to Title 4 {“Administrative Procedure Act – Regulations”} of the <cite data-path="|general">City General Provisions Article</cite>, adopt rules and regulations to carry out this section, including procedures, forms, and documentation required to apply for the credit authorized by this section and to periodically verify continuing eligibility for the credit; may, in those rules and regulations, define or further define any terms used in connection with the qualifications for or computation of the credit authorized by this section; may settle disputed claims arising in connection with the credit authorized by this section; must prepare an annual written report to the Mayor and City Council detailing the number of low-income employees from each agency who have utilized the tax credit in the preceding year; and may delegate to any other City agency or employee the Director’s powers, duties, or functions in connection with the administration of the credit authorized by this section. Any person who knowingly makes a false statement on or in connection with an application for a tax credit under this section or in connection with any report or statement supporting a property’s continued eligibility for a tax credit granted under this section is guilty of a misdemeanor and, on conviction, is subject to a fine of not more than $1,000 or to imprisonment for not more than 12 months or to both fine and imprisonment for each offense. Applications for this credit may not be accepted after June 30, 2030. Ord. 20-348 Text Conformed 02/25/21 By authority of Ordinance 20-431, Section 5, the Director of Legislative Reference, in consultation with the Law Department, has conformed this section to refer expressly to and reflect the requirements of the recently-enacted Administrative Procedure Act that, effective January 15, 2021, governs the proposal, adoption, and publication of administrative rules and regulations. This section was enacted by Ordinance 20-348, effective January 1, 2021.