Section 1-1305 - Outdoor advertising signs(a)(1) In this section the following words have the meanings indicated.(2)(i) "Fair market value" means a value that: 1. is determined by a schedule adopted by the Department of Transportation; and2. includes the value of the integral parts of an outdoor advertising sign, less depreciation.(ii) "Fair market value" does not include loss of revenue.(3)(i) "Outdoor advertising sign" means an off-premises outdoor sign that is: 1. commercially owned and maintained; and2. used to advertise goods or services for sale in a location other than the location where the sign is placed.(ii) "Outdoor advertising sign" includes a sign composed of painted bulletin or poster panel, generally referred to as a billboard.(b) A county or municipality shall pay the fair market value of an outdoor advertising sign that: (1) was lawfully erected and maintained under a State, county, or municipal law or ordinance; and(2) is removed or required to be removed by the county or municipality.Renumbered by 2013 Md. Laws, Ch. 493,Sec. 1, eff. 10/1/2013.Revised and recodified by 2013 Md. Laws, Ch. 119,Sec. 2, eff. 10/1/2013.