An Act To Provide Property Tax Relief for Veterans Mho Reside in Cooperative Housing Further amend the bill by striking out everything after the enacting clause and before the summary and inserting in its place the following: Sec. 1. 36 MRS A §662 is enacted to read: §662. Property tax relief program for veterans living in cooperative housing 1.. Definitions. As used in this section. unless context otherwise indicates. the following terms have following meanings. the the A. Cooperative interest" means ownership of a share of or membership in an organization that owns residential property for the benefit of its owners or members on a not-for profit basis combined with a nondivisible right to occupancy of a portion of the residential property. B. Qualifying veteran or veteran's survivor means a person who meets the qualifications. other than property ownership. for a property tax exemption under section 653 as a veteran or the survivor of a veteran. Page l-LR2234(2) COMMITTEE AMENDMENT
Maine Legislature, Session 121, LD 1674
Committee Amendment CA_A_H786 (House)

COMMITTEE AMENDMENT "A, to H.P. 1250, L.D. 1674, Bill, "An 
Act To Expand Property Tax Exemptions for Veterans to Cooperative 
Housing" 
Amend the bill by striking out the title and substituting 
the following: 
'An Act To Provide Property Tax Relief for Veterans Mho Reside in 
Cooperative Housing' 
Further amend the bill by striking out everything after the 
enacting clause and before the summary and inserting in its place 
the following: 
'Sec. 1. 36 MRS A §662 is enacted to read: 
§662. 
Property tax relief program for veterans living in 
cooperative housing 
1.. 
Definitions. 
As 
used 
in this 
section. 
unless 
context 
otherwise 
indicates. 
the 
following 
terms 
have 
following meanings. 
the 
the 
A. 
"Cooperative interest" means ownership of a share of or 
membership in an organization that owns residential property 
for the benefit of its owners or members on a not-for profit 
basis combined with a nondivisible right to occupancy of a 
portion of the residential property. 
B. 
"Qualifying veteran or veteran's 
survivor" 
means 
a 
person who meets the qualifications. other than property 
ownership. for a property tax exemption under section 653 as 
a veteran or the survivor of a veteran. 
Page l-LR2234(2) 
COMMITTEE AMENDMENT 
~ 
~ 
COMMITTEE AMENDMENT "11" to H.P. 1250, L.D. 1674 
C. 
"Veterans' property tax exemption eguivalent" means an 
amount calculated by multiplying the property tax rate for 
the tax jurisdiction where the property is located by the 
appropriate exempt amount that the gualifying veteran or 
veteran's survivor would be eligible for if the property 
were owned in fee. 
The veterans' property tax exemption 
eguivalent may not exceed the amount that the gualifying 
veteran or veteran's survivor is obligated by contract to 
pay to the cooperative as the member's share of property 
taxes. 
2. 
Rebate. 
A taxpayer who 
is a 
gualifying veteran or 
veteran's survivor with a cooperative interest in property having 
a taxable situs in the place of the taxpayer's residence in the 
State is allowed a rebate egual to the veterans' property tax 
exemption eguivalent. 
The credit is not allowed if the taxpayer 
received a property tax exemption under section 653 based on the 
status of property on April 1st of the calendar year for which 
the rebate is sought. 
3. 
Application: 
calculation 
of 
rebate. 
A 
gualifying 
veteran or veteran's survivor may apply for a rebate under this 
section during the same time period in which an application may 
be made for benefits under chapter 907. 
Eligibili ty and the 
calculation of the rebate is based on the taxable status of 
property. 
the status of the veteran and the status of the 
cooperative interest on April 1st of the calendar year preceding 
the beginning of the application period. 
4. 
AdministratiQn" 
Ex~~Pt 
a,~ othgrwise provideg in this 
§g~tiQn. 
claim§ 
fQr 
a, 
rgl:!atg 
yng~r thi§ 
!2~~tiQn myst 
l:!g 
admini§tgrgg in tbg §gme ma,;nner as !::laims ynger !::hapter 2Q7. 
Sec. 2. Application. 
This Act applies to applications for 
benefits filed on or after August 1, 2004. 
Sec. 
3. 
Appropriations 
and 
allocations. 
appropriations and allocations are made. 
ADMINISTRATIVE AND FINANCIAL SERVICES, 
DEPAR"DIENT OF 
Veterans Cooperative Housing Rebate 
The 
following 
Initiative: 
Provides funds for the new rebate payment to certain 
veterans who reside in cooperative housing. 
General Fund 
All Other 
2003-04 
$0 
2004-05 
$91,400 
COMMITTEE AMENDMENT 
~ 
't:i 
~ 
... 
COMMITTEE AMENDMENT .. /I .. to H.P. 1250, L.D. 1674 
General Fund Total 
$0 
$91,400' 
SUMMARY 
This amendment replaces the bill and proposes to establish a 
rebate program for veterans and their survivors who 
are not 
eligible for 
a 
property tax exemption because they live in 
cooperative housing. 
The 
rebate program would provide those 
veterans and their survivors with tax benefits equivalent to what 
they would receive if they were eligible for a property tax 
exemption. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENr 
Net Cost (Savings) 
General Fund 
Appropriations/Allocations 
General Fund 
Fiscal Detail and Notes 
Approved: 03110/04 ;tk?ae 
Office of Fiscal and Program Review 
LD 1674 
An Act To Expand Property Tax Exemptions for Veterans to 
Cooperative Housing 
LR2234(02) 
Fiscal Note for Bill as Amended by Committee Amendment" " 
Committee: Taxation 
Fiscal Note Required: Yes 
Fiscal Not.e 
2003-04 
$0 
$0 
2004-05 
$91,400 
$91,400 
Projections 
2005-06 
$91,400 
$91,400 
Projections 
2006-07 
$91,400 
$91,400 
Maine Revenue Services will require $91,400 annually beginning in fiscal year 2004-05 for the new rebate payment to 
certain veterans who reside in cooperative property. 
LR2234(2) - Fiscal Note - Page 1 of 1