An Act To Provide Funding to the Land for Maine's Future Fund
Maine Legislature, Session 122, LD 1103
Committee: Taxation
Sponsors: BOWEN, PERCY, PINGREE, RECTOR
Amends: 5 MRSA §6207

Legislative Document 
No. 1103 
H.P.756 
House of Representatives, March 1, 2005 
An Act To Provide Funding to the Land for Maine's Future Fund 
Reference to the Committee on Taxation suggested and ordered printed. 
Presented by Representative BOWEN of Rockport. 
Cosponsored by Senator SA V AGE of Knox and 
/J1~ 
frI· 7!/t?£~ 
MILLICENT M. MacFARLAND 
Clerk 
Representatives: PERCY of Phippsburg, PINGREE of North Haven, RECTOR of Thomaston. 
Printed on recycled paper 
Be it enacted by the People of the State of Maine as follows: 
Sec. I. 5 MRSA §6207, sub-§4-A is enacted to read: 
4-A. 
Re~L..e~_tate 
tJ:~Ii{~:r_~~ __ I:evenue. 
The board must 
en.sure that at least 25°b of the revenue credited to the Land for 
Maine's 
Future 
Fund pursuant to Title 36, 
chapter 
711-A 
be 
separately identified by the county in which the revenue was 
raised. 
The board shall use funds from these separate county 
accounts 
for 
land acquisitions 
within 
the 
same 
county 
that 
transferred the revenue to the Land for Maine's Future Fund. 
Any 
unobligated amount remaining in a county's account at the end of 
the fiscal year must carry forward to the next fiscal year for 
land purchases within the same county. 
Sec. 2. 36 MRS A §464I-B. sub-§4, as amended by PL 2003, c. 20, 
Pt. V, §l, is further amended to read: 
4. 
Distribution of State's share of proceeds. 
The State 
Tax Assessor shall pay all net receipts received pursuant to this 
section to the Treasurer of State, and shall at the same time 
provide the Treasurer of State with documentation showing the 
amount 
of 
revenues 
derived 
from 
the tax 
imposed by section 
4641-A, subsection 1 by county and the amount of revenues derived 
from 
the 
tax 
imposed 
by 
section 4641-A, 
subsection 
2. 
The 
Treasurer of State shall credit 1/2 of the revenues derived from 
the tax imposed by section 4641-A, subsection 1 to the GeaeJ;'a± 
Land for Maine's Future Fund created in Title 5, section 6203 and 
shall monthly pay the remaining 1/2 of such revenues to the Maine 
State Housing Authority, which shall deposit the funds in the 
Housing Opportunities 
for 
Maine 
Fund created in Title 
30-A, 
section 4853T-e~€e~-~~--~-fi&ea~-yea~-~~~~-fi&Ga~-yeaJ;' 
6994-9§T-~~~~~~-~Re-~~~~-~~~-ef-~~-~-m~6t 
Be-~~~~~~~~-~Re-~e~e£~~-~~-&&~~-aay-~~~~-maae 
\;e-~-he--Ma.-i~e--S-t;.a.t;,.e.-~~-A~\;ReF:i\;y. 
The Treasurer of State 
shall provide to the State Planning Office the documentation 
identifying the county from which the revenues were derived. 
The 
Treasurer of State shall credit to the General Fund all of the 
revenues 
derived 
from 
the 
tax 
imposed 
by 
section 
4641-A, 
SUbsection 2. 
Sec. 3. Effective date. 
That section of this Act that amends 
the Maine Revised Statutes, Title 36, section 4641-B takes effect 
July 1, 2006. 
Page l-LR03 86 (l) 
SUMMARY 
This bill dedicates a portion of the real estate transfer 
tax revenue to the Land for Maine's Future Fund instead of the 
General Fund beginning in fiscal year 2006-07. 
It requires the 
Land for Maine's Future Board to dedicate at least 
25~o of the 
revenue generated by each county and transferred to the Land for 
Maine's Future Fund for land acquisitions wi thin the county in 
which the transfer tax revenue was raised.