The Mayor and City Council of Baltimore City or 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 that is imposed on real property that is: owned by Habitat for Humanity with the intention of relinquishing ownership in the near future; used for the purposes of development, rehabilitation, and transfer to a private owner; and not occupied by administrative or warehouse buildings owned by Habitat for Humanity. If the Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation grants a property tax credit under this section, Habitat for Humanity shall submit an annual written report to the Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation granting the tax credit documenting: all of Habitat for Humanity’s real property holdings in the jurisdiction granting the tax credit; and all transactions involving Habitat for Humanity’s real property holdings in the jurisdiction granting the tax credit. The Mayor and City Council of Baltimore City or the governing body of a county or municipal corporation may, by law: set the amount, terms, scope, and duration of a credit granted under subsection (a) of this section; and adopt any other provision necessary to administer a credit granted under subsection (a) of this section.