["Real property." Any agricultural, commercial or industrial
land or building owned by an individual, partnership, limited
liability corporation, corporation or nonprofit. The term does
not include multifamily housing or any residential property.]
"Qualifying commercial property." As follows:
(1) Real property that meets any of the following
criteria:
(i) Any real property that is agricultural,
commercial, industrial or multifamily housing with five
or more units owned by an individual, partnership,
limited liability corporation, corporation or nonprofit.
(ii) A mixed-use real property of any of the
property types under subparagraph (i), whether land or
building.
(2) The term does not include property that is
residential housing with four or fewer units.
"Resiliency improvement." Any fixture, product, system,
equipment, device, material or interacting group of fixtures,
products, systems, equipment, devices or materials intended to
increase resiliency or improve the durability of real property,
including flood mitigation, wind resistance, energy storage,
microgrids and backup power generation or otherwise designated
by a local government entity.
* * *
Section 3. Sections 4303(1)(ii), 4304 introductory paragraph
and (1) and 4305(b) of Title 12 are amended to read:
§ 4303. Establishment of a program.
The following apply:
(1) A municipality with a community or economic
development department or county may establish a property
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