124th MAINE LEGISLATURE
LD 500 LR 1263(01)
An Act To Include as Authorized Project Costs the Construction or Improvement of Buildings Used by Municipalities for Purposes of Designating Municipal Development Districts
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Schneider of Penobscot
Committee: Business, Research and Economic Development
Fiscal Note Required: No
             
Preliminary Fiscal Impact Statement
Minor cost increase - General Fund
Fiscal Detail and Notes
Additional costs to the Department of Economic and Community Development associated with reviewing the proposed project costs of constructing or improving facilities leased by a municipal government that are located in approved downtown tax increment financing districts to ensure that the costs are in compliance with Title 30-A, §5225, sub-§1 can be absorbed within existing budgeted resources.  Additional costs to Maine Revenue Services in determining State valuations, and the exclusion of TIFFs from municipal valuations, can be absorbed within existing budgeted resources.