FOR the purpose of authorizing the governing body of Prince George’s County to enter into an agreement with an owner of real property who is engaged in constructing or operating housing structures or projects for the payment of a negotiated amount in lieu of county property taxes on the property; requiring property that is subject to a payment in lieu of taxes agreement to be used for a housing structure or project that is constructed or rehabilitated under certain programs or acquired under a certain county program; requiring the owner of real property subject to a payment in lieu of taxes agreement to agree to certain requirements for the use of the property for low–income housing; authorizing real property subject to a payment in lieu of taxes agreement to include certain service facilities; providing that real property subject to a payment in lieu of taxes agreement is exempt from county property tax when certain requirements are met; defining a certain term; and generally relating to payment in lieu of taxes agreements for low–income housing in Prince George’s County.