230. The revenue from the application of section 221 shall be apportioned among the municipal corporations by the person, at the times and according to the criteria, terms and conditions prescribed by regulation made under paragraph 4 of section 262.
For each municipal fiscal period, the person referred to in the first paragraph shall pay to a municipal corporation an amount equal to the amount he would be entitled to receive for that fiscal period under section 99 of the Real Estate Assessment Act (chapter E-16). For each municipal fiscal period, the person shall pay to a municipal corporation not entitled to receive a tax under section 222 an amount equal to the amount it received for the 1979 fiscal period under section 101 of the Real Estate Assessment Act. Notwithstanding sections 99 and 101 of the Real Estate Assessment Act, the amounts shall be paid even if the immovables contemplated in the said sections cease to exist. However, the amount computed under section 101 of the said Act shall cease to be paid from the fiscal period 2003. The person contemplated in the first paragraph, instead of annually paying to a municipal corporation the amount owing to it, may pay to it in a single payment an amount that, increased by the interest that it would yield at a rate fixed by the person who makes the payment, is equal to the sum of the annual amounts owing to the municipal corporation. The amounts paid by the person contemplated in the first paragraph are taken out of the revenues referred to in that paragraph.
The revenue apportioned under the first paragraph is that remaining after subtracting the amounts necessary for the application of the second paragraph and collection costs equal to 1.5% of the revenue derived from the application of section 221.
1979, c. 72, s. 230; 1980, c. 34, s. 38; 1983, c. 57, s. 119.