An Act To Capitalize the Municipal Investment Trust Fund with Municipal Revenue-sharing Resources
Maine Legislature, Session 124, LD 0808
Sponsors: BEAUDETTE, DIAMOND, JACKSON, SIMPSON, CLARK, HILL, LAJOIE, STUCKEY, WAGNER
Amends: 30-A MRSA §5681, 30-A MRSA §6006-D

MAINE STATE LEGISLATURE 
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124th MAINE LEGJISLATURE 
Legislative Document 
No. 808 
S.P.316 
In Senate, March 3, 2009 
An Act To Capitalize the Municipal Investment Trust Fund with 
Municipal Revenue-sharing Resources 
Reference to the Committee on Taxation suggeste~ and ordered printed . 
. Presented by Senato'r CRAVEN of Androscoggin. 
. 9rf)(J~ 
JOY J. O'BRIEN 
Secretary of the Senate 
Cosponsored by Representative BEAUDETTE of Biddeford and 
Senators: DIAMOND of Cumberland, JACKSON of Aroostook, SIMPSON of Androscoggin, 
Representatives: CLARK of Millinocket, HILL of York, LAJOIE of Lewiston, STUCKEY of 
Portland, WAGNER of Lewiston. 
Printed an recycled paper 
Be it enacted. by the People of the State of Maine as follows: 
Sec. 1. 30-A MRS A §5681, sub-§3, as amended by PL 2005, c. 266, §1, is 
further amended to read: 
3. Revenue-sharing funds. To strengthen the state-municipal fiscal relationship 
pursuant to the [mdings and objectives of subsection 1, there is established the Local 
Government Fund. 
To provide additional support for municipalities experiencing a 
higher-than-average property tax burden, there is established the Disproportionate Tax 
Burden Fund. To assist those municipalities that collaborate ',vith other municipalities, 
counties or state agencies to obtain savings in the cost of delivering local and regional 
governmental services there is established the Fund for the Efficient Delivery of Local 
and Resonal Services. ';",hich is administered pursuant to chauter 231. 
12, 
Sec. 2. 30-A MRSA §5681, sUb-§5-B, as amended by PL 2007, c. 240, Pt. NNN, 
. § 1, is repealed. 
Sec. 3. 30-A MRSA §5681, sub-§5-C is enacted to read: 
5-C. Municipal Investment Trust Fundi. For the months beginning on or after 
October 1, 2009 and before the distributions required by subsections 4-A and 4-B. 2% of 
all receipts transferred each month pursuant to subsection 5 must be deposited in the 
Municipal Investment Trust Fund established in section 6006-D. 
Sec. 4. 30-A MRSA §6006-D, sul:!-§l, ~, as corrected by RR 1993, c. 2, §30, is 
amended to read: 
·29 
B. 
The bank shall administer the fund. The fund must be invested in the same 
manner as permitted for investment of funds belonging to the State or held in the 
State Treasury. The fund must be established and held separate from any other funds 
or money pf the State or the bank and used and administered exclusively for the 
purpose of this section and section 5953-D. The fund consists of the following: 
(1) Sums that are appropriated by the Legislature or transferred to the fund frem 
time to time by the Treasurer of State pursuant to section 5681, subsection 5-C; 
(2) 
~rincipal and interest received from the repayment of loans made from the 
fund; 
(3) Capitalization grants and awards made to the State or an instrumentality of 
the State by the Federal Government for any of the purposes for which the fund 
has been established. These amounts must be paid directly into the 'fund without 
need for appropriation by the State; 
(4) Interest earned from the investment of fund balances; 
(5) 
Private gifts, bequests and donations made to the State for any of the 
purposes for which the fund has been es'tablished; 
(6) The proceeds of notes or bonds issued by the State for the purpose of deposit 
in the fund; 
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(7) The proceeds of notes or bonds issued by the bank for the purpose of deposit 
in the fund; and 
(8) Other funds from any public or private source received for use for any of the 
purposes for which the fund has been established. 
Sec. 5. 30-A MRSA c. 231, as amended, is repealed. 
Sec. 6. Effective date. This Act takes effect October 1, 2009. 
SUMMARY 
Current law dedicates 2% of municipal revenue-sharing resources to the Fund for the 
Efficient Delivery of Local and Regional Services. This bill abolishes the Fund for the 
Efficient Delivr;:iy of Local and Regional Services and dedicates that 2% to the Municipal 
Investment Trust Fund beginning October 1, 2009.