A.__Two percent of the amount remitted to the State must be retained by the State to defray its costs of administration;

B.__Five and two-tenths percent of the amount remitted to the State must be paid to the Local Government Fund established in Title 30-A, section 5681; and

C.__Ninety-two and eight-tenths percent of the amount remitted to the State must be paid to the municipality that adopted the tax.

§1875.__Multimunicipal limited sales tax district authorized

Two or more municipalities may join__together for the purpose of creating a multimunicipal limited sales__tax district.__Before the municipal officers prepare the warrant for any referendum vote authorizing the adoption of a multimunicipal limited sales tax, the participating municipalities must execute an interlocal agreement pursuant to Title 30-A, chapter 115 that details the financial rights and responsibilities of each participating municipality with respect to the limited sales tax and the procedures for the referendum. The interlocal agreement must detail the respective municipal financial obligations in the circumstance of any participating municipality voting at referendum to adopt or repeal the tax and in the circumstance of any participating municipality voting at referendum not to adopt or repeal the tax.__For the purposes of complying with Title 30-A, section 2205, an interlocal agreement executed for the purpose of this chapter must be submitted to the Director of the State Planning Office within the Executive Department for approval.

§1876.__Adjustment of state valuation

For each municipality imposing a tax under this chapter, the State Tax Assessor shall compute a property tax base equivalent.__The property tax base equivalent is computed by dividing the revenue distributed to the municipality under this chapter by the full value mill rate for the municipality.__ The property tax base equivalent must be added to the state valuation for the municipality when making the distributions required under Title 20-A, Part 7 and Title 30-A, section 5681 and the apportionments of county taxes under Title 30-A, section 706.