An Act To Authorize Early Payment of Anticipated Funds to the Loring Job Increment Financing Fund
Maine Legislature, Session 129, LD 1835
Committee Amendment CA_A_S271 (Senate)
Amends: 5 MRSA §13080-S

COMMITTEE AMENDMENT " I\" to S.P. 620, L.D. 1835, Bill, "An Act To 
Authorize Early Payment of Anticipated Funds to the Loring Job Increment Financing 
Fund" 
Amend the bill in 2nd paragraph after the title in the 2nd line (page 1, line 4 in L.D.) 
by striking out the following: 
112019
and inserting the following: '2020' 
Amend the bill by striking out all of section 1 and inserting the following: 
'Sec. 1. 5 MRSA §13080-S, sub-§3, as amended by PL 2015, c. 486, §3 and 
affected by §5, is further amended to read: 
3. Deposit and payment of revenue. On or before July 15th of each year, the 
assessor shall deposit an amount equal to 50% of the employment tax increment for the 
preceding year into a contingent account established, maintained and administered by the 
State Controller. On or before July 31st of each year, the assessor shall pay that amount 
to the fund. 
A. At any time during the 12 months preceding the July 31, 2020 payment date, the 
assessor, at the direction of the Governor or upon the recommendation of the 
Commissioner of Economic and Community Development and the approval of the 
Commissioner of Administrative and Financial Services, shall deposit into the 
contingent account and pay to the fund an amount not to exceed the anticipated 
payment amount to the fund or the amount paid the previous year, whichever is 
greater. Any difference between the amount advanced and the amount fmally 
determined to be due, in the event of an underpayment, must be added to the final 
payment due by July 31, 2020 or, in the event of an overpayment. must be deducted 
from the final payment due by July 31. 2021. 
This paragraph is repealed August 1, 2021' 
Amend the bill by relettering or renumbering any nonconsecutive Part letter or 
section number to read consecutively. 
COMMITTEE AMENDMENT 
), 
COMMITTEE AMENDMENT "A- "to S.P. 620, L.D. 1835 { ') ~ dl \) 
SUMMARY 
This amendment changes the final payment date for which funds may be advanced to 
July 31, 2020 from July 31, 2019. The amendment adds language clarifying that, upon 
approval, the assessor is required to both deposit funds into the contingent account and 
pay those funds into the fund. 
The amendment also requires approval by the 
Commissioner of Administrative and Financial Services for early transfers and payments 
recommended by the Commissioner of Economic and Community Development. The 
amendment adds language clarifying that any difference between the amount advanced 
and the amount finally determined to be due, in the event of an underpayment, must be 
added to the final payment due by July 31, 2020, or, in the event of an overpayment, must 
be deducted from the final payment due by July 31, 2021. The amendment repeals the 
temporary provision on August 1, 2021. 
FISCAL NOTE REQUIRED 
(See 11ttaebed> 
COMMITTEE AMENDMENT 
~' 
Approved: 06/10/19 feac:. 
LD 1835 
LR 2555(02) 
An Act To Authorize Early Payment of Anticipated Funds to the Loring Job Increment Financing 
Fund 
Fiscal Note for Bill as Amended by Committee Amendment "If' ( ~ ~~10 
Committee: Innovation, Development, Economic Advancement and Business 
Fiscal Note Required: Yes 
Fiscal Note 
Allows advance payment - Loring Job Increment Financing Fund 
Fiscal Detail and Notes 
Current law provides that an amount equal to 50% of the employment tax increment for the preceding year be 
deposited into the Loring Job Increment Financing Fund on or before July 31st of each year. The bill allows for an 
anticipated payment amount to be deposited into the fund any time during the 12 months preceding the July 31, 2020 
payment date and that any discrepancy between the amount advanced to the fund and the amount finally determined to 
be due to the fund be added to the final payment in the event of an underpayment or deducted from the final payment 
due by July 31, 2021 in the event of an overpayment. 
Additional costs to the Department of Economic Development to implement the requirements of this legislation can 
be absorbed within existing budgeted resources. 
LR2555(02) - Fiscal Note - Page 1 of 1