The governing body of St. Mary’s County may grant, by law, a property tax credit under this section against county property tax imposed on: property that is: owned by the St. George’s Island Improvement Association, Incorporated; and used only for community or civic purposes; real property that is owned by the Seventh District Optimist Youth Foundation, Inc.; real property, including any improvements, that is subject to a State or a county land preservation program; and real property that: was formerly used solely as a tobacco barn; and is subject to a tobacco buyout agreement. In authorizing a credit under paragraph (1)(iv) of 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. The governing body of St. Mary’s County may grant, by law, a property tax credit against the county property tax imposed on personal property. A law adopted under paragraph (1) of this subsection may provide for: the amount of a credit; the subclasses of personal property under § 8–101(c) of this article to which the credit applies; and other provisions necessary to administer the credit. The governing body of St. Mary’s County or of a municipal corporation in St. Mary’s County may grant, by law, a property tax credit under this section against the county or municipal corporation property tax imposed on real property that is: leased to a nonprofit school; and used exclusively for primary or secondary educational purposes. A property tax credit granted under this subsection shall continue as long as the property is in compliance with the terms of this subsection. To encourage the location and development of business operations and expansion of the employment base in St. Mary’s County, the governing body of St. Mary’s County or of a municipal corporation in St. Mary’s County may grant, by law, a property tax credit against the county or municipal corporation property tax imposed on any property owned or leased by a new or expanding business that creates 10 or more full–time jobs in an industry targeted for expansion by the St. Mary’s County Economic Development Commission. A tax credit granted under this subsection may not be granted for more than 10 years. The governing body of St. Mary’s County may grant, by law, a property tax credit against the county property tax imposed on commercial real property that: is located in an eligible area of the county; and has had improvements made on the property on or after July 1, 2020. The amount of the credit authorized under this subsection may not exceed 25% of the county property tax assessed on the property. The duration of the credit authorized under this subsection may not exceed 10 years. If the governing body of St. Mary’s County authorizes a credit under this subsection, the governing body of St. Mary’s County: may provide, by law, for: subject to paragraph (2)(i) of this subsection, the amount of the credit; subject to paragraph (2)(ii) of this subsection, the duration of the credit; and any other provision necessary to administer the credit; and shall define, by law, the areas in the county and the improvements to the property that are eligible for a credit authorized under this subsection.