Emergency Property Tax Relief Act

[AI summary unavailable — showing source text] Emergency Property Tax Relief Act - Provides that where the Secretary of the Treasury has determined that a jurisdiction has established a real property tax relief program which affords low and moderate income households a credit or other payment against the real property tax imposed by such jurisdiction, he shall reimburse said jurisdiction for one-half of the qualifying revenue losses attributable to such program. Requires a jurisdiction desiring to qualify for payments under this Act to make an application at such time and in such manner as the Secretary shall prescribe by regulations. Provides that whenever the Secretary, after reasonable notice and opportunity for a hearing to a jurisdiction which has had an application approved, finds that such jurisdiction no longer has a qualifying property tax relief program, he shall notify such jurisdiction that it will not be eligible to receive payments until he is satisfied that the jurisdiction has a qualifying property tax relief program. Permits a jurisdiction dissatisfied with the Secretary's decision to petition for review of that action within sixty days after notice of such action in the United States court of appeals for the c…