LD 751
pg. 2
Page 1 of 2 An Act Concerning Counties' Share of the Real Estate Transfer Tax LD 751 Title Page
Download Bill Text
LR 1625
Item 1
 
tax imposed by section 4641-A, subsection 2. The Treasurer of
State shall credit 1/2 65% of the revenues derived from the tax
imposed by section 4641-A, subsection subsections 1 and 2 to the
General Fund and shall monthly pay the remaining 1/2 35% of such
revenues to the Maine State Housing Authority, which shall deposit
the funds in the Housing Opportunities for Maine Fund created in
Title 30-A, section 4853, except that in fiscal year 2003-04 and
fiscal year 2004-05, $7,500,000 of the remaining 1/2 of those
revenues must be transferred to the General Fund before any
payments are made to the Maine State Housing Authority. The
Treasurer of State shall credit to the General Fund all of the
revenues derived from the tax imposed by section 4641-A, subsection
2.

 
SUMMARY

 
This bill increases the portion of the real estate transfer
tax that is retained by the county by 5% each year beginning
February 2006 to a maximum of 30% from the current level of 10%.

 
This bill also changes the distribution percentage of the
revenue derived from the transfer taxes imposed on deeds or
controlling interests in real property to give the Maine State
Housing Authority 35% of the revenue.

Page 1 of 2 Top of Page LD 751 Title Page
Additional Information
Amendments Public Hearings Committee Information
Other Documents Work Sessions Title & Section
Related Pages
Status for LD 751 Search Bill Text Session Information
Bill Directory Search
Bill
Status		 Legislative Information
Download RTF (MS-Word) Maine Legislature
Office of Legislative Information
100 State House Station
Augusta, ME 04333		 voice: (207) 287-1692
fax: (207) 287-1580
tty: (207) 287-6826
Word Viewer for Windows Disclaimer