Sec. 1. 36 MRSA §198, sub-§3, ¶B, as enacted by PL 1999, c. 708, §20, is amended to read:

B. Chapter 105, subchapters subchapter IV and IV-B.

Sec. 2. 36 MRSA §501, sub-§§1-A, 4-A, 6-A and 11 are enacted to read:

1-A. Commercial, agricultural and industrial property.__ "Commercial, agricultural and industrial property" means all real estate and tangible personal property subject to property taxation used or held for use for a business purpose.

4-A.__Permanent residence.__"Permanent residence" means that place where an individual has a true, fixed and permanent home and principal establishment to which the individual, whenever absent, has the intention of returning.__An individual may have only one permanent residence at a time and, once permanent residence is established, that residence is presumed to continue until circumstances indicate otherwise.

6-A. Primary residential property. "Primary residential property" means any residential property in this State assessed as real property owned by a resident of the property or held in a revocable living trust for the benefit of a resident and occupied by that resident as the resident's permanent residence.__"Primary residential property" does not include any real property used solely for commercial, agricultural or industrial purposes.

11.__Tracts of undeveloped property not enrolled in a current use taxation program.__"Tracts of undeveloped property not enrolled in a current use taxation program" means any separately deeded parcel of land 10 acres or greater in size that is completely undeveloped and supports no buildings, improvements or structures of any kind and that is not classified for current use taxation under subchapter II-A or subchapter X.

Sec. 3. 36 MRSA §507, as amended by PL 1997, c. 643, Pt. HHH, §2 and affected by §10, is further amended to read:

§507. Taxpayer information

When a municipality issues a property tax bill to each taxpayer, each bill must contain a statement or calculation that demonstrates the amount or percentage by which the taxpayer's tax has been reduced by the distribution of state-municipal revenue sharing, state reimbursement for the Maine resident homestead property tax exemption and state aid for education. The property