On page 3, after line 21, insert the following:
     "(4) The declaration shall state or include the following consumer protection information in a manner that is conspicuous to the claimant completing the declaration:
     (a) The deferral of real property taxes and special assessments accrues interest at a variable rate that results in a balloon payment when the home is sold or repayment is otherwise required;
     (b) Deferring real property taxes and special assessments allows the state to place a lien on the home;
     (c) The estimated cost of deferring real property taxes and special assessments using hypothetical examples based on different property values and interest rates;
     (d) The approximate loss in residential equity for each year real property taxes and special assessments are deferred; and
     (e) Language advising the claimant that private financial institutions may offer a more favorable interest rate than the current state interest rate for the deferral program under this chapter."