Sec. 1. 30-A MRSA §5248, sub-§5, as enacted by PL 2003, c. 451, Pt. NNN, §2, is amended to read:

5. Amendments. A participating unit of local government may amend the designation of that portion of a Pine Tree Development Zone contained within its boundaries or an adopted development plan only after meeting the requirements of this section for designation of a Pine Tree Development Zone or adoption of a development plan and with the concurrence of all other participating units of local government. A participating unit of local government may not amend the designation of a Pine Tree Development Zone if the amendment would result in the zone's being out of compliance with any of the requirements in section 5247.

Sec. 2. 35-A MRSA §3208, sub-§7-A is enacted to read:

7-A.__Exemption from stranded cost.__A business certified as a qualified Pine Tree Development Zone business by the Commissioner of Economic and Community Development under Title 30-A is exempt from the stranded cost portion of their utility bill.

This subsection is repealed December 31, 2018.

SUMMARY

This bill exempts a business that is certified as a qualified Pine Tree Development Zone business from the stranded cost portion of the business's utility bill. The bill also requires only town meeting approval for amendments to a Pine Tree Development Zone in the affected town and removes the requirement of town meetings for changes in the Pine Tree Development Zone's development plan.