(a) The Director of Finance must pay a Renters’ Property Tax Relief Supplement to each resident who qualifies to receive a payment under the State property tax relief program for renters established under Section 9-102 of the Tax-Property Article of the Maryland Code. (b) For each taxable year, the Supplement to each eligible resident under this Section equals 50% of the State payment to the resident. (c) The Director may require each eligible resident to submit an application for the Supplement, and may take any other action necessary to administer the Supplement. (d) The County Executive may issue regulations under method (2) to administer this Supplement.