(a)    (1)    In this section the following words have the meanings indicated.

(2)    (i)    “Commercial fish operation” means any activity for which a person is required to possess a tidal fish license under § 4–701 of the Natural Resources Article.

(ii)    “Commercial fish operation” includes any activity for which a person is required to be licensed as a seafood dealer under § 4–701 of the Natural Resources Article.

(3)    “Commercial fishing vessel” means a vessel that is:

(i)    owned or leased by a person possessing a tidal fish license under § 4–701 of the Natural Resources Article; and

(ii)    used in a commercial fish operation.

(4)    “Commercial marina” means a marina that leases at least 20% of its slips to commercial fishing vessels.

(5)    “Commercial marine repair facility” means a marine repair facility that derives at least 20% of its gross receipts from charges for the repair and maintenance of commercial fishing vessels.

(6)    (i)    “Commercial waterfront property” means real property that:

1.    is adjacent to the tidal waters of the State;

2.    is used primarily for a commercial fish operation or as a commercial marina or commercial marine repair facility; and

3.    for the most recent 3–year period, has produced an average annual gross income of at least $1,000.

(ii)    “Commercial waterfront property” includes land that is adjacent to or under improvements used primarily for a commercial fish operation or as a commercial marina or commercial marine repair facility.

(b)    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 tax credit against the county or municipal corporation property tax imposed on commercial waterfront property.

(c)    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)    the amount and duration of the tax credit under this section;

(2)    additional eligibility criteria for the tax credit under this section;

(3)    regulations and procedures for the application and uniform processing of requests for the tax credit; and

(4)    any other provision necessary to carry out the credit under this section.