1. (a) This section applies only to existing single-family residential real property in Prince George's County.

2. (b) A person or entity that imposes a deferred water and sewer charge shall include with each bill a statement that includes:

   1. (1) The amount of the annual assessment;
   2. (2) The approximate number of payments remaining on the assessment;
   3. (3) The amount remaining on the assessment, including interest;
   4. (4) The name and address of the person or entity most recently responsible for collection of the assessment;
   5. (5) The method used to compute the deferred water and sewer charge on the property;
   6. (6) The interest rate on the assessment;
   7. (7) The estimated payoff amount of the assessment; and
   8. (8) A statement that payoff of the assessment is allowed without prepayment penalty.
3. (c) The balance owed on a deferred water and sewer assessment may be redeemed at the present value of the assessment.

Added by Acts 2014, c. 441, § 1, eff. Oct. 1, 2014.