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Amend the bill by striking out everything after the enacting clause and before the summary and inserting the following:
‘Sec. 1. 30-A MRSA §5223, sub-§3, ¶D, as amended by PL 2007, c. 693, §3 and affected by §37, is further amended to read:
 
D. The aggregate value of municipal general obligation indebtedness financed by the proceeds from tax increment financing districts within any county may not exceed $50,000,000 adjusted by a factor equal to the percentage change in the United States Bureau of Labor Statistics Consumer Price Index, United States City Average from January 1, 1996 to the date of calculation.
 
(1) The commissioner may adopt rules necessary to allocate or apportion the designation of captured assessed value of property within proposed tax increment financing districts to permit compliance with the condition in this paragraph. Rules adopted pursuant to this paragraph are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.
’
 
(2) The acquisition, construction and installment of all real and personal property improvements, buildings, structures, fixtures and equipment included within the development program and financed through municipal bonded indebtedness must be completed within 58 years of the commissioner's approval of the designation of the tax increment financing district.
 
SUMMARY
This amendment replaces the bill and changes the requirement, repealed in the bill, that a project financed through municipal bonded indebtedness must be completed within 5 years of the commissioner's approval of the designation of the tax increment financing district by extending the period for completion to 8 years.