Each person who acquires a controlling interest in a corporation, whether by one or more than one transfer of stock, shall, if the fair market value of all real property held in this State by the corporation exceeds $500,000.00, report to the Commissioner of Taxes, within 30 days after the acquisition, the fair market value of all real property held in this State by the corporation at the time of the acquisition of the controlling interest. (Added 1993, No. 85, § 3(b), eff. Jan. 1, 1994; amended 2019, No. 71, § 15.)