Sec. 1. 30-A MRSA §5252, sub-§2, as amended by PL 1989, c. 104, Pt. C, §§8 and 10, is further amended to read:

2. Captured assessed value. "Captured assessed value" means the valuation amount by which the current assessed value of a tax increment financing district exceeds the original assessed value of the district. If the current assessed value is equal to or less than the original there is no captured assessed value. For tax increment financing districts approved after October 1, 1999, "captured assessed value" does not include the value of property that is used for the delivery, presentation or sale of retail goods.

SUMMARY

This bill excludes property used for retail purposes from a tax increment financing district.