The Mayor and City Council of Baltimore City or the governing body of a county or of a municipal corporation may grant, by law, a property tax credit against the county or municipal corporation property tax imposed on that portion of the real property on which an improvement is substantially completed if: the property is owned by a business having at least 25 employees; and the improvement contains an area set aside and dedicated exclusively for a child care center that is: registered as a family child care home or large family child care home under Title 9.5, Subtitle 3 of the Education Article; or licensed as a child care center under Title 9.5, Subtitle 4 of the Education Article. The amount of the annual credit may not exceed $10,000 or the amount of county or municipal corporation property tax attributable to that portion of property for which the credit was granted, whichever is less. Subject to subsection (b) of this section, the Mayor and City Council of Baltimore City or the governing body of a county or of a municipal corporation may provide, by law, for: the amount and duration of the property tax credit under this section; and any other provision necessary to carry out the property tax credit under this section.