| | | Be it enacted by the People of the State of Maine as follows: |
|
| | | Sec. 1. 30-A MRSA §5252, sub-§2, as amended by PL 1989, c. 104, Pt. C, | | §§8 and 10, is further amended to read: |
|
| | | 2. Captured assessed value. "Captured assessed value" means | | the valuation amount by which the current assessed value of a tax | | increment financing district exceeds the original assessed value | | of the district. If the current assessed value is equal to or | | less than the original there is no captured assessed value. For | | tax increment financing districts approved after October 1, 1999, | | "captured assessed value" does not include the value of property | | that is used for the provision of food and lodging to the public. |
|
| | | This bill excludes property used for the provision of food and | | lodging to the public from a tax increment financing district. |
|
|
