1.__Percentage.__The percentage of the personal property taxes reimbursed;

2.__Reimbursement paid.__The total dollar amount of the reimbursement paid; and

3.__Eligibility requirements.__The type of business and business equipment eligible for reimbursement under the reimbursement program and any location restrictions.

§6674.__Referendum

The question of whether to adopt a reimbursement program must be submitted to the legal voters of a municipality that seeks to adopt a reimbursement program.__The petition process and the voting at elections held in towns and plantations must be held and conducted in accordance with Title 30-A, sections 2528, 2529 and 2532 even if the town or plantation has not accepted the provisions of section 2528.__The voting at elections held in municipalities must be held and conducted in accordance with Title 21-A.

The municipal clerk shall make a return of the results, certify the results and send them to the Secretary of State.__ The Secretary of State shall forward the results to the assessor.

A reimbursement program may be discontinued by referendum conducted in the same manner as the referendum adopting the reimbursement program under this chapter.

§6675.__Effective date of reimbursement program

A reimbursement program authorized by this chapter takes effect 120 days after the municipal referendum vote if it is accepted by a majority of the local voters voting at the election and the total number of votes cast for and against acceptance of the reimbursement program exceeds 20% of the total votes cast in that municipality in the most recent gubernatorial election.

SUMMARY

This bill repeals the Business Equipment Tax Reimbursement program that provides state reimbursement of property taxes paid on personal business property.