Sec. 10. (a) This section applies to a town having a population of more than one thousand (1,000) located in a county having a population of more than twenty-eight thousand (28,000) and less than twenty-eight thousand one hundred eighty-one (28,181).
(b) Notwithstanding sections 3 and 4.5 of this chapter, the submission of a statement of benefits to a designating body subsequent to the installation of new manufacturing equipment and the initiation of the rehabilitation or redevelopment of real estate and the designating body's retroactive approval of that statement of benefits are legalized and validated for 1993 and subsequent assessment years, subject to the limitations set forth in section 5(e) of this chapter.