Maryland § 21-519

§ 21-519.

    A law enacted by Anne Arundel County under this subtitle:

        (1)    shall specify the type of infrastructure and related costs that may be financed;

        (2)    shall require:

            (i)    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

            (ii)    that, if a seller fails to provide the disclosure, the buyer may void the contract before the date of settlement;

        (3)    shall require adequate debt service reserve funds to be maintained;

        (4)    may provide:

            (i)    for exemptions, deferrals, and credits; and

            (ii)    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

        (5)    may not allow:

            (i)    acceleration of assessments or taxes by reason of bond default; or

            (ii)    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.