The governing body of Calvert County and of a municipal corporation in Calvert County shall grant a tax credit under this section against the county and municipal corporation property tax imposed on: real property that is owned by the Calvert Arundel Medical Facility, Incorporated; and agricultural land, not including any improvements, that is located in an agricultural preservation district. The governing body of Calvert County shall grant a property tax credit under this section against the county tax imposed on: real property that is: owned by a nonprofit community or civic improvement association or corporation; and used only for a community, civic, educational, or library purpose, if: unless the compensation is used only to improve or maintain the property, the use is not contingent on the payment of compensation; and unless the compensation is used only to improve or maintain the property, failure to pay compensation is not a reason to deny admission to or use of the property; real property that is owned by the Calvert County Sportsmen’s Club, Incorporated; and real property that is: located in the 2nd election district of Calvert County; actually used for the Calvert County Fair; and known as the Calvert County Fairgrounds. The governing body of Calvert County may grant, by law, a property tax credit under this section against the county property tax imposed on a building that is: located on land that qualifies for an agricultural use assessment; and used in connection with an activity that is recognized by the Department as an approved agricultural activity. The governing body of Calvert County may grant, by law, a property tax credit under this section against the county property tax imposed on real property that is: owned by the Huntingtown Volunteer Fire Department and Rescue Squad, Incorporated; and leased to the United States Postal Service for use as a post office. The governing body of Calvert County may grant, by law, a property tax credit under this section against the county property tax imposed on real property that is owned by the Calvert Post No. 85, the American Legion Department of Maryland, Incorporated. The governing body of Calvert County may grant, by law, a property tax credit under this section against the county property tax imposed on real property that is owned by members of volunteer fire and rescue companies. The governing body of Calvert County may provide, by law, for: the amount and duration of the tax credit under this subsection; and the criteria for qualifying for the tax credit under this subsection. Subject to subparagraph (ii) of this paragraph, the governing body of Calvert County may grant, by law, a property tax credit under this section against the county property tax imposed on real property owned by an expanding or new business that: employs at least 25 new additional full–time employees, the salaries for which must be greater than the county annual average salary in the economic development target market sector, as determined by the county; and acquires at least $2,500,000 in land, improvements to the land, or equipment in the county. If the expanding or new business is engaged in the generation of electricity or liquefaction of natural gas, the credit under this section may be granted against the county property tax imposed on personal property, operating personal property, real property, or operating real property owned by the expanding or new business. The tax credit under this section shall be granted to: a business that owns the land and building it occupies within the county; or any party responsible for paying the real property taxes on all or part of the land or building. The amount of the credit may not exceed 50% of the amount of property tax due in any taxable year. The governing body of Calvert County may define, fix, or limit the amount, terms, scope, and duration of any credit provided for or affirmed under this subsection. In this subsection the following words have the meanings indicated. “Commerce zone” means a priority funding area in Calvert County designated by the governing body of Calvert County as a commerce zone. “New or expanded premises” means commercial or industrial real property, including a building or part of a building that has not been previously occupied, where a business entity locates to conduct business. The governing body of Calvert County may grant, by law, a property tax credit under this section against the county property tax imposed on real property owned by a business entity that meets the requirements specified under this subsection. To qualify for a property tax credit under this subsection, a business entity shall obtain new or expanded premises in a commerce zone by purchasing newly constructed premises, constructing new premises, or causing new premises to be constructed. If a business entity meets the requirements under paragraph (3) of this subsection, the property tax credit granted under this subsection shall equal a percentage of the amount of county property tax imposed on the assessment of the new or expanded premises, as follows: 50% for each of the first 5 taxable years; 25% in taxable years 6 and 7; 15% in taxable years 8 through 10; and 0% for each taxable year thereafter. The governing body of Calvert County may provide, by law, for: the specific eligibility requirements for the tax credit authorized under this subsection; any additional limitations on eligibility for the credit; and any other provision necessary to implement the credit. The governing body of Calvert County may grant, by law, a property tax credit against the county property tax imposed on real property that was formerly used solely as a tobacco barn if the real property: is located on land that is subject to a tobacco buyout agreement; or is located on land that qualifies for an agricultural use assessment; and is used in connection with an activity that is recognized by the Department as an approved agricultural activity. In authorizing a credit under this subsection, the governing body of the county may provide, by law, for: the amount of the credit; the duration of the credit; and any other provision necessary to administer the credit.