| 122nd MAINE LEGISLATURE | |||||||||
| LD 791 | LR 1994(01) | ||||||||
| An Act Concerning the Taxation of Buildings in Which Nonprofit Organizations Are Housed | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Sen. Martin of Aroostook | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Current Cost - State Mandate | |||||||||
| Undetermined current biennium cost increase - General Fund | |||||||||
| State Mandate | |||||||||
| New or Expanded Activity | Unit Affected | Costs | |||||||
| Requires municipalities to separately value portions of property used by charitable institutions. | Municipality | Significant | |||||||
| Fiscal Detail and Notes | |||||||||
| The additional General Fund appropriations required to reimburse municipalities 50% of the loss in property tax revenue can not be determined at this time and is in addition to the 90% reimbursement for the additional administrative costs (state mandate) to municipalities. | |||||||||