<?xml version='1.0' encoding='utf-8'?>
<section article="glg" article_name="Local Government" number="21-519" title_number="21" title_name="Special Taxing Districts" subtitle_number="5" subtitle_name="Districts for Infrastructure Improvements for Selected Counties">
  <text>A law enacted by Anne Arundel County under this subtitle:</text>
  <level label="1">
    <text>shall specify the type of infrastructure and related costs that may be financed;</text>
  </level>
  <level label="2">
    <text>shall require:</text>
    <level label="i">
      <text>reasonable disclosure in a real estate contract to buyers of real property in a special taxing district of any special assessment, special tax, or other fee or charge for which the buyer would be liable due to the special taxing district; and</text>
    </level>
    <level label="ii">
      <text>that, if a seller fails to provide the disclosure, the buyer may void the contract before the date of settlement;</text>
    </level>
  </level>
  <level label="3">
    <text>shall require adequate debt service reserve funds to be maintained;</text>
  </level>
  <level label="4">
    <text>may provide:</text>
    <level label="i">
      <text>for exemptions, deferrals, and credits; and</text>
    </level>
    <level label="ii">
      <text>for a lien to attach to property in a special taxing district to the extent of that property owner’s obligation under any special taxing district financing; and</text>
    </level>
  </level>
  <level label="5">
    <text>may not allow:</text>
    <level label="i">
      <text>acceleration of assessments or taxes by reason of bond default; or</text>
    </level>
    <level label="ii">
      <text>an increase in the maximum special assessments, special taxes, or other fees or charges applicable to any individual property if other property owners become delinquent in paying a special assessment, a special tax, or any other fee or charge securing bonds issued under this subtitle.</text>
    </level>
  </level>
</section>
