Adjustment of certain assessments required.

In the assessment year beginning January 1, 2003, the amount of assessed value of property defined in section 403.19, subsection 1 , for an urban renewal taxing district which received replacement moneys under section 427B.19A, subsection 4 , shall be reduced by an amount equal to that portion of the amount of assessed value of such property which was assessed pursuant to section 427B.17, subsection 4 . 96 Acts, ch 1049, §7 ; 2003 Acts, ch 178, §8 ; 2013 Acts, ch 90, §247