Sec. 1. 36 MRSA §6652, sub-§1-D is enacted to read:

1-D.__Limitation on certain property.__Reimbursement may not be made pursuant to this chapter for property first placed in service in the State or constituting construction in progress commenced in the State after April 1, 2000 to the extent that the property taxes paid with respect to that property are returned to the taxpayer by the municipality due to the taxpayer's participation in a municipal development district pursuant to Title 30-A, chapter 207.

SUMMARY

This bill prohibits reimbursement of property taxes under the business equipment tax reimbursement program if the taxes also are reimbursed under a tax increment financing district agreement.