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PUBLIC LAW 85-23-APR. 23, 1957
[71 S T A T.
to the acquisition by the United States of such property; provided, that whenever a political subdivision wherein a flood control dam and reservoir or portion thereof is located shall have made a general revaluation of property subject to the annual municipal taxes of such subdivision, the commission may use such revaluation for the purpose of determining the amount of taxes for which reimbursement shall be made in the paragraph next above. Using the percentage of payment agreed to m said paragraph, the commission shall then compute the sum, if any, due from the Commonwealth of Massachusetts to the State of New Hampshire and shall send notice to the treasurer of the Commonwealth of Massachusetts setting forth in detail the sums, if any, to be paid to the State of New Hampshire in reimbursement of tax losses. "The Commonwealth of Massachusetts on receipt of formal notification from the commission of the sum which it is to pay in reimbursement for tax losses shall, not later than July first of the following year, make its payment for such tax losses to the State of New Hampshire, except that in case of the first annual payment for tax losses at any dam or reservoir such payment shall be made by the CommonAvealth of Massachusetts not later than July first of the year in which the next regular session of its legislature is held. "Payment by the Commonwealth of Massachusetts of its share of reimbursement for taxes in accordance with formal notification received from the commission shall be a complete and final discharge of all liability of the Commonwealth of Massachusetts to the State of New Hampshire for each flood control dam and reservoir within the State of New Hampshire for the time specified in such formal notification. The State of New Hampshire shall have full responsibility for distributing or expending all such sums received and no agency or political subdivision shall have any claim against the Conmionwealth of Massachusetts nor against the commission relative to tax losses covered by such payments. "Whenever the Cotnmonwealth of Massachusetts and the State of New Hampshire shall agree, through the commission, on a lump sum payment in lieu of annual payments and such lump sum payment has been made and received, the requirement that the commission annually shall determine the tax losses, compute sums due from the Commonwealth of Massachusetts and send notice thereof to the treasurer of the Commonwealth of Massachusetts, shall no longer apply to the aforesaid states with respect to any flooil control dam and reservoir for which lump sum payment has been made and received. "The Commonwealth of Massachusetts agrees to pay the State of New Hampshire its respective share in reimbursement, as determined by the commission under the procedure following, for economic losses and damages occurring by reason of ownership of property by the United States for construction and operation of a flood control dam and reservoir at any site specified in Article IV, and for any other flood control dam and reservoir constructed hereafter by the United States in the Merrimack river valley; provided, however, that no reimbursement shall be made for speculative losses and damages or losses or damages for which the United States is liable. "On receipt of information from the chief of engineers that request is to be made for funds for the purpose of preparing detailed plans and specifications for any flood control dam and reservoir proposed to be constructed in the Merrimack river valley, including those specified in Article IV, the commission shall make an estimate of the amount of taxes which would be lost to and of economic losses and damages which would occur in political subdivisions of the State
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