Sec. 1. 36 MRSA §662 is enacted to read:

§662.__Reimbursement for land acquired by the State after

October 1, 2001

1.__Reimbursement.__The Treasurer of State shall reimburse each municipality for the property tax revenue loss to the municipality resulting from the acquisition of land of 100 acres or more or interests in land 100 acres or more acquired by the State after October 1, 2001.__The Treasurer of State is not required to reimburse a municipality if ownership of the land or interest in land acquired by the State is transferred to the municipality in which the land is located.

2.__Filing claim.__If a municipality suffers property tax revenue loss for which it is entitled to reimbursement under subsection 1, it may file a claim for reimbursement in the same manner as provided under section 661.__If the municipality is entitled to reimbursement under both this section and section 661, the State Tax Assessor shall calculate reimbursement by combining the valuations of property eligible for reimbursement under this section with the value of property eligible under section 661.

3.__Unorganized territory.__The unorganized territory is entitled to reimbursement under this section in the same manner as a municipality.__The amount of reimbursement due must be paid into the Unorganized Territory Education and Services Fund established in chapter 115.

SUMMARY

This bill requires the State to reimburse municipalities and the unorganized territory for property tax revenue lost as a result of the State acquiring 100 acres or more of land after October 1, 2001.