Source: http://www.mainelegislature.org/legis/bills/bills_128th/billtexts/SP003102.asp
Timestamp: 2019-08-24 05:41:42
Document Index: 218755025

Matched Legal Cases: ['§661', '§5', 'art 3', '§661', '§4', '§5', '§661', '§6']

SP0031, LD 82, item 2, Document Text
LD 82 Session - 128th Maine Legislature
C "A", Filing Number S-94, Sponsored by
LR 344
‘Sec. 2. 36 MRSA §661, first ¶, as enacted by PL 1981, c. 133, §5, is amended to read:
As Except as otherwise provided in this section, as required by the Constitution of Maine, Article IV, Part 3 Third, Section 23, the Treasurer of State shall reimburse each municipality 50% of the property tax revenue loss suffered by that municipality during the previous calendar year as a result of statutory property tax exemptions or credits enacted after April 1, 1978. The property tax revenue loss shall must be determined pursuant to the following procedure.
Sec. 3. 36 MRSA §661, sub-§4, as enacted by PL 1981, c. 133, §5, is amended to read:
4. Payment. The Treasurer of State shall pay to the municipality 50% the percentage of the property tax revenue loss to which it is entitled under this section by December 15th of the year following the year in which property tax revenue was lost by the municipality.
Sec. 4. 36 MRSA §661, sub-§6 is enacted to read:
6. Exception. The Treasurer of State shall reimburse each municipality 100% of the property tax revenue loss suffered by that municipality during the previous calendar year as a result of the exemption provided in section 653, subsection 1, paragraph D-4.
Initiative: Provides funding to reimburse municipalities for the administrative costs associated with implementing a 100% property tax exemption for veterans receiving a property tax exemption based on a rating of 100% for service-connected disability.
$0 $11,200
GENERAL FUND TOTAL $0 $11,200
This amendment requires the State to reimburse municipalities for 100% of the property tax revenue loss as a result of the property tax exemption provided by the bill to veterans for a service-connected disability. The amendment also adds an appropriations and allocations section to cover the costs of reimbursement and state-mandated administrative costs.