§ 1-1105. Surcharge required

Latest version.

   (a) In general. -- A program shall require a property owner to repay a loan provided under the program through a surcharge on the owner's property tax bill.

(b) Limit on surcharge. -- A county or municipality may not set a surcharge greater than an amount that allows the county or municipality to recover the costs associated with:

   (1) issuing bonds to finance the loan; and

   (2) administering the program.

(c) Obligation to pay surcharge. -- A person who acquires property subject to a surcharge under this section assumes the obligation to pay the surcharge.

HISTORY: An. Code 1957, art. 24, § 9-1502(c), (d); 2013, ch. 119, § 2.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');