§7–240.

    Personal property is not subject to property tax if the property:

        (1)    is owned by a nonprofit organization that:

            (i)    is qualified as tax exempt under § 501(c)(4) of the Internal Revenue Code; and

            (ii)    is engaged primarily in providing a program to render its best efforts to contain, clean up, and otherwise mitigate spills of oil or other substances occurring in United States coastal and tidal waters; and

        (2)    is used for the purposes of the organization.