Sec. 1. 30-A MRSA §5254-A, sub-§1-A, ¶C, as amended by PL 1993, c. 429, §2, is further amended to read:

C. Prior to approval of the proposed state tax increment financing district, the committee shall estimate the annual amount to be deposited in the state tax increment contingent account for all existing state tax increment financing districts, including the proposed district, and that estimate may be used only in determining compliance with the limitations imposed under subsection 4, paragraphs D and E. The committee shall project for 2 calendar years immediately subsequent to retail activity commencing in a state tax increment financing district the level of income and sales tax collections for a market area assuming the absence of the state tax increment financing district. After the initial projection, the committee must every 2 years project the level of income and sales tax collections for a market area assuming the absence of the state tax increment financing district. The committee shall determine a market area and every 2 years update that determination as retail activity develops in the state tax increment financing district and market area.

Sec. 2. 30-A MRSA §5254-A, sub-§2, ¶A, as amended by PL 1997, c. 220, §4, is further amended to read:

A. On or before April 15th of each year, designated businesses located within a state tax increment financing district shall report the amount of sales tax paid in connection with operations within the district, the number of employees within the district, the state income taxes withheld from employees within the district for the immediately preceding calendar year and any further information the committee State Tax Assessor may reasonably require.

On or before June 30th of each year, the committee State Tax Assessor shall determine the state tax increment of a district for the preceding calendar year.

Sec. 3. 30-A MRSA §5254-A, sub-§2-A, as repealed and replaced by PL 1993, c. 429, §4, is amended to read:

2-A. Calculation of state tax increment. The committee State Tax Assessor shall calculate a state tax increment for a particular district by: