Relating to the payment of certain ad valorem tax refunds.

Contracts

• Triple-Net (NNN) Leases: You must amend standard lease templates. Define "Tax Refunds" to clarify ownership of the statutory 12% interest penalty. Specify whether this interest is credited to the tenant (who paid the tax) or retained by the landlord (as compensation for administrative oversight).
• Tax Consultant Engagement Letters: Review fee structures. If your consultant takes a percentage of "tax savings," clarify if this includes the 12% penalty interest paid by the county for late refunds.

Hiring/Training

• Accounts Receivable/Tax Teams: Train staff to stop filing refund applications for amounts over $20, as these are now automatic. Conversely, implement a manual workflow to apply for refunds *under* $20 within 3 years, or these funds will be forfeited.
• Legal Counsel: Attorneys must be briefed on the new hard deadline: lawsuits to compel refunds must be filed within 60 days of a denial or receipt of an overpayment notice.

Reporting & Record-Keeping

• Interest Tracking: Implement a ledger to track the "Date Liability Arises" (e.g., date of appeal determination). If the refund check arrives after Day 60, your system must automatically flag the transaction to demand the mandatory 12% interest.
• Notice Retention: Retain all "Notices of Overpayment" from Tax Collectors. These notices are now the evidentiary trigger for the statute of limitations on lawsuits.

Fees & Costs

• Revenue Opportunity: The law creates a new revenue stream via the 12% annual interest penalty on late government payments.
• Litigation Costs: Attorney’s fees in suits to compel refunds are capped at the greater of $1,500 or 30% of the refund amount.