(a) In this section, “open space” or “open area” means:
(1) real property, exclusive of any improvement, determined to be an “open space” or “open area” as defined in § 5-1201 of the Natural Resources Article;
(2) real property that is determined by law of the Mayor and City Council of Baltimore City or the governing body of the county where the real property is located to be an “open space” or an “open area” on the recommendation of:
(i) the Maryland-National Capital Park and Planning Commission; or
(ii) the Department of Natural Resources; and
(3) real property subject to an easement of interest in the property that:
(i) except as provided in subsection (i) of this section, limits the use of the property in a manner to preserve in perpetuity the natural open character of the property; and
(ii) is permanently conveyed or assigned to:
1. the federal, the State, or local government; or
2. the Maryland-National Capital Park and Planning Commission.
(b) Except as provided in subsections (c) and (d) of this section, 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 not exceeding 75% of the county, municipal corporation, or special district property tax imposed on any category of “open space” or “open area”.
(c) A property tax credit not exceeding 100% of the county, municipal corporation, or special district property tax imposed on real property by the governing body of a county or of a municipal corporation on any category of “open space” or “open area” may be granted in:
(1) Anne Arundel County.
(2) Calvert County.
(3) Charles County.
(4) Frederick County.
(5) Harford County.
(6) Howard County.
(7) Montgomery County.
(8) Prince George’s County.
(9) St. Mary’s County.
(d) The Mayor and City Council of Baltimore City or the governing body of a county or of a municipal corporation may grant a property tax credit not exceeding 100% of the county, municipal corporation, or special district property tax imposed on an “open space” or “open area” if:
(1) the owner of the “open space” or “open area” agrees to sell or convey the “open space” or “open area” in an option agreement to:
(i) the federal, the State, or local government; or
(ii) the Maryland-National Capital Park and Planning Commission; and
(2) the option agreement:
(i) provides that the conveyance is in fee simple;
(ii) provides that the conveyance is made within a fixed period not exceeding 20 years;
(iii) provides that the price of the conveyance does not exceed the fair market value of the real property when the option is executed; and
(iv) contains provisions as the grantee deems necessary to preserve the real property as an “open space” or “open area”.
(e) 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:
(1) any procedural or enforcement provision necessary to carry out this section; and
(2) any condition that is uniformly applied in the granting of a property tax credit under this section.
(f) (1) The Mayor and City Council of Baltimore City or the governing body of a county or of a municipal corporation may designate a functional or geographical category of “open space” or “open area” on which a property tax credit under this section may be granted.
(2) A functional category may include:
(i) a country club;
(ii) a woodland;
(iii) a commercial golf course; and
(iv) a golf driving range.
(3) A geographical category may include:
(i) a river basin real property;
(ii) a conservation area; and
(iii) a stream valley.
(4) Any property tax credit granted and any standard used in granting a property tax credit shall be applied uniformly to all real property in each category.
(g) Valuation and assessment of “open space” or “open area” shall be made in the same manner as any other real property in the county or municipal corporation.
(h) (1) In Montgomery County and Prince George’s County, an easement or interest conveyed under this section may be in perpetuity or for a period of not less than 5 years.
(2) An easement or interest previously conveyed may be extended for any period of time.
(i) A property tax credit granted under this section is effective as long as the federal, the State, or local government or the Maryland-National Capital Park and Planning Commission holds the easement or interest.