‘Sec. 2. 36 MRSA §661, first ¶, as enacted by PL 1981, c. 133, §5, is amended to read:
As Except as otherwise provided in this section, as required by the Constitution of Maine, Article IV, Part 3 Third, Section 23, the Treasurer of State shall reimburse each municipality 50% of the property tax revenue loss suffered by that municipality during the previous calendar year as a result of statutory property tax exemptions or credits enacted after April 1, 1978. The property tax revenue loss shall must be determined pursuant to the following procedure.
Sec. 3. 36 MRSA §661, sub-§4, as enacted by PL 1981, c. 133, §5, is amended to read:
Sec. 4. 36 MRSA §661, sub-§6 is enacted to read:
Sec. 5. Appropriations and allocations. The following appropriations and allocations are made.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Veterans Tax Reimbursement 0407
Initiative: Provides funding to reimburse municipalities for the administrative costs associated with implementing a 100% property tax exemption for veterans receiving a property tax exemption based on a rating of 100% for service-connected disability.
|GENERAL FUND TOTAL||$0||$11,200|