Allows, for certain claimants, late filing of claim for exemption from property taxation for five tax years prior to current tax year. Requires late filing fee of greater of $200, or one-tenth of one percent of real market value of property to which claim pertains, multiplied by number of prior tax years for which exemption is claimed. Provides tax to be refunded without interest for exempt property for which claim is filed late. Takes effect on 91st day following adjournment sine die.