Resolve, Concerning the Assessment of Property Subject to Affordable Housing Limitations and Benefits Further amend the bill by striking out everything after the title and before the summary and inserting in its place the following: Sec. 1. Review. Resolved: That the Department of Administrative and Financial Services, Bureau of Revenue Services, referred to in this resolve as "the bureau," shall review the factors that should be considered by municipal assessors when determining the just value of property acquired, rehabilitated or constructed pursuant to federal laws related to affordable housing for low-income persons. The factors to be reviewed must include, but are not limited to, contracts and agreements, enforceable restrictions on the use of such property, financial elements including sales of such projects, government subsidies, tax credits, permits and licenses and any other factors considered relevant by the bureau; and be it further Page l-LR2982(2} COMMITTEE AMENDMENT
Maine Legislature, Session 122, LD 1796
Committee Amendment CA_A_S531 (Senate)

COMMITTEE AMENDMENT "A" to S.P. 713, L.D. 1796, Bill, "An 
Act To Ensure the Continued Viability of Affordable Housing" 
Amend the bill by striking out the title and substituting 
the following: 
'Resolve, 
Concerning 
the 
Assessment 
of 
Property 
Subject 
to 
Affordable Housing Limitations and Benefits' 
Further amend the bill by striking out everything after the 
title and before the 
summary and inserting in its place the 
following: 
'Sec. 
1. 
Review. 
Resolved: 
That 
the 
Department 
of 
Administrative 
and 
Financial 
Services, 
Bureau 
of 
Revenue 
Services, referred to in this resolve as "the bureau," shall 
review 
the 
factors 
that 
should 
be 
considered 
by 
municipal 
assessors when determining the just value of property acquired, 
rehabilitated or constructed pursuant to federal laws related to 
affordable housing for low-income persons. 
The factors to be 
reviewed must include, but are not limited to, contracts and 
agreements, enforceable restrictions on the use of such property, 
financial elements including sales of such projects, government 
subsidies, 
tax 
credits, 
permits 
and 
licenses 
and 
any 
other 
factors considered relevant by the bureau; and be it further 
Page l-LR2982(2} 
COMMITTEE AMENDMENT 
,.",~ . 
:" 
COMMITTEE AMENDMENT .. A 
.. to S.P. 713, L.D. 1796 
Sec. 2. Informational program and materials. Resolved: 
That the 
bureau shall prepare an informational program and materials for 
municipal assessors that describe the factors that should be 
considered by municipal assessors when determining the just value 
of property acquired, rehabilitated or constructed pursuant to 
federal 
laws 
related 
to 
affordable 
housing 
for 
low-income 
persons. 
The informational program must be presented as part of 
the bureau's annual Property Tax School; and be it further 
Sec. 3. Report. Resolved: 
That the bureau shall present a 
report to the joint standing committee of the Legislature having 
jurisdiction over taxation matters by January 10, 2007 describing 
the results of its review conducted pursuant to section 1. 
The 
report must include a description of how other states treat 
valuation issues for affordable housing projects both with and 
without federal tax credits and the impact of those credits on 
valuation. 
The report must describe practices used in Maine to 
assess 
affordable 
housing 
projects 
and 
identify 
any 
inconsistencies. 
The report must evaluate the application of the 
Constitution of Maine 
to assessment practices for 
affordable 
housing projects. 
The report must include any recommendations 
for statutory changes the bureau considers necessary. 
The bureau 
may submit legislation to implement its recommendations. 
After 
receipt and review of the report the joint standing committee may 
report out to the First Regular Session of the 123rd Legislature 
legislation to 
implement 
the 
recommendations 
related 
to 
the 
report; and be it further 
Sec. 4. Advisory group. Resolved: 
That 
the 
bureau shall 
consult with the Maine State Housing Authority; representatives 
of affordable housing project developers, financers and owners; 
organizations 
representing 
municipal 
officials, 
including 
municipal assessors; and other experts in the field of appraisal 
and 
affordable 
housing project financing 
when 
preparing the 
informational program and materials and the report required by 
this resolve.' 
SUMMARY 
This amendment changes the bill to a resolve directing the 
Department of Administrative and Financial Services, Bureau of 
Revenue Services to review factors affecting the assessment of 
affordable 
housing property 
for 
property tax purposes. 
The 
resolve also directs the bureau to provide an informational 
program and materials for municipal assessors and requires 
a 
report to the joint standing committee of the Legislature having 
jurisdiction over taxation matters. 
FISCAL :\OTE HEQURED 
(See attaChed) 
-
COMMITTEE AMENDMENT 
Approved: 03/27/06 ;:'!vac:... 
LD 1796 
LR 2982(02) 
An Act To Ensure the Continued Viability of Affordable Housing 
Fiscal Note for Bill as Amended by Committee Amendment ,A" 
Committee: Taxation 
Fiscal Note Required: Yes 
Fiscal Note 
Minor cost increase - General Fund 
LR2982(2) - Fiscal Note - Page 1 of 1