Sec. 44. (a) If:
(1) a municipality purchased under threat of condemnation real property upon which there were any unpaid Barrett Law assessments; and
(2) because of the purchase the vendor paid, under protest, the interest on the Barrett Law assessment for a period of ten (10) years in advance;
the vendor is entitled to a reimbursement for the interest paid in advance, less the interest for one (1) year.
(b) The vendor must present and prove a claim for the interest to the municipal fiscal officer. The reimbursement under this section shall be paid out of the surplus Barrett Law account of the municipality.