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An Act To Increase the County Share of the Real Estate Transfer Tax
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §4641-B, sub-§3,  as enacted by PL 2001, c. 559, Pt. I, §4 and affected by §15, is repealed and the following enacted in its place:
 
3.   Disposition of funds.     On or before the 10th day of each month, each register of deeds shall pay over to the State Tax Assessor a percentage of the tax collected pursuant to this section during the previous month based on the following schedule:
 
A.  Beginning February 2008, 80% of the tax collected. The remaining 20% is retained for the county by the register of deeds and accounted for to the county treasurer as reimbursement for services rendered by the county in collecting the tax; and
 
B.  Beginning February 2009, 70% of the tax collected. The remaining 30% is retained for the county by the register of deeds and accounted for to the county treasurer as reimbursement for services rendered by the county in collecting the tax.
 
SUMMARY
This bill increases the portion of the real estate transfer tax that is retained by a county to 30%, from the current level of 10%, by increasing the percentage 10% each of 2 years, beginning February 2008.