Sec. BB-1. 36 MRSA §6203, as enacted by PL 1987, c. 516, §§3 and 6, is repealed.
Sec. BB-2. 36 MRSA §6203-A is enacted to read:
§6203-A. Procedure for reimbursement
At least monthly on or before the last day of the month, the State Tax Assessor shall determine the benefit for each claimant under this chapter and certify the amount to the State Controller to be transferred to the so-called circuit breaker reserve established, maintained and administered by the State Controller from General Fund undedicated revenue within the individual income tax category. At least monthly, the assessor shall pay the certified amounts to each approved applicant qualifying for the benefit under this chapter. Interest may not be allowed on any payment made to a claimant pursuant to this chapter.
Sec. BB-3. Limit on transfers to circuit breaker reserve. Notwithstanding the Maine Revised Statutes, Title 36, section 6203-A, the State Tax Assessor may certify transfers to the circuit breaker reserve up to and not to exceed a total of $24,742,857 in fiscal year 2004-05.
Sec. BB-4. Appropriations and allocations. The following appropriations and allocations are made.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Maine Residents Property Tax Program 0648
Initiative: Deappropriates funds to convert this program to be reflected as an offset to the individual income tax line.
General Fund 2003-04 2004-05
All Other $0 ($24,742,857)
__________ __________
General Fund Total $0 ($24,742,857)
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