| | | Constitutional amendment. Resolved: Two thirds of each branch of the | | Legislature concurring, that the following amendment to the | | Constitution of Maine be proposed: |
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| | | Constitution, Art. IX, §8, sub-§6 is enacted to read: |
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| | | 6.__Small business land value.__The Legislature may limit the | | rate of increase in the taxable value of small business land.__ | | The Legislature may permit municipalities to choose whether to | | adopt such a limitation. In implementing this subsection, the | | Legislature shall provide that certain changes in ownership or | | use of the small business land as specified by the Legislature | | must result in the restoration of the land to taxation at just | | value and the imposition of a minimum penalty equal to the tax | | that would have been imposed over the 5 years preceding the | | change of ownership or use had the small business land not been | | subject to a limitation on increases in taxable value under this | | subsection and interest, as determined by the Legislature.__Any | | limitation on increases in taxable value under this subsection | | may not affect the determination of equalized just value of a | | municipality for any purpose. |
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| | | Constitutional referendum procedure; form of question; effective date. Resolved: | | That the municipal officers of this State shall notify the | | inhabitants of their respective cities, towns and plantations to | | meet, in the manner prescribed by law for holding a statewide | | election, at a statewide election, on the Tuesday following the | | first Monday of November following the passage of this | | resolution, to vote upon the ratification of the amendment | | proposed in this resolution by voting upon the following | | question: |
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| | | "Do you favor amending the Constitution of Maine to permit | | limiting the taxable value of small business land?" |
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| | | The legal voters of each city, town and plantation shall vote | | by ballot on this question and designate their choice by a cross | | or check mark placed within the corresponding square below the | | word "Yes" or "No." The ballots must be received, sorted, | | counted and declared in open ward, town and plantation meetings | | and returns made to the Secretary of State in the same manner as | | votes for members of the Legislature. The Governor shall review | | the returns and, if it appears that a majority of the legal votes | | are cast in favor of the amendment, the Governor shall proclaim | | that fact without delay and the amendment becomes part of the | | Constitution of Maine on the date of the proclamation; and be it | | further |
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