| Be it enacted by the People of the State of Maine as follows: |
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| | Sec. 1. 30-A MRSA §5254-A, sub-§1-A, ¶C, as amended by PL 1993, c. 429, | §2, is further amended to read: |
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| C. Prior to approval of the proposed state tax increment | financing district, the committee shall estimate the annual | amount to be deposited in the state tax increment contingent | account for all existing state tax increment financing | districts, including the proposed district, and that | estimate may be used only in determining compliance with the | limitations imposed under subsection 4, paragraphs D and E. | The committee shall project for 2 calendar years immediately | subsequent to retail activity commencing in a state tax | increment financing district the level of income and sales | tax collections for a market area assuming the absence of | the state tax increment financing district. After the | initial projection, the committee must every 2 years project | the level of income and sales tax collections for a market | area assuming the absence of the state tax increment | financing district. The committee shall determine a market | area and every 2 years update that determination as retail | activity develops in the state tax increment financing | district and market area. |
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| | Sec. 2. 30-A MRSA §5254-A, sub-§2, ¶A, as amended by PL 1997, c. 220, | §4, is further amended to read: |
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| A. On or before April 15th of each year, designated | businesses located within a state tax increment financing | district shall report the amount of sales tax paid in | connection with operations within the district, the number | of employees within the district, the state income taxes | withheld from employees within the district for the | immediately preceding calendar year and any further | information the committee State Tax Assessor may reasonably | require. |
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| On or before June 30th of each year, the committee State Tax | Assessor shall determine the state tax increment of a | district for the preceding calendar year. |
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| | Sec. 3. 30-A MRSA §5254-A, sub-§2-A, as repealed and replaced by PL | 1993, c. 429, §4, is amended to read: |
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| | 2-A. Calculation of state tax increment. The committee State | Tax Assessor shall calculate a state tax increment for a | particular district by: |
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