Sec. 1. 33 MRSA §593, sub-§2, as amended by PL 1987, c. 358, §1, is further amended to read:

2. Time-share estates as separate estates or as one parcel. Each time-share estate constitutes for all purposes a separate estate in real property. Each time-share estate shall must be separately assessed and taxed. The When so taxed, the filing and discharge of tax liens on more than one time-share estate owned by the same person are governed by Title 36, section 942-A. If required by an ordinance enacted by the municipal officers, each whole condominium unit in which time-share estates have been created must be valued for real estate tax purposes as if the unit were owned by a single taxpayer, in which case the total cumulative purchase price paid for the time-share estates may not determine the unit's assessed value.__Whether taxed as separate estates or as one condominium unit, the assessed value may not include that portion of the purchase price attributable to marketing costs, vacation or interval exchange rights, vacation services or club memberships or costs associated with those rights, services or memberships if the association of unit owners or a managing entity provides competent information detailing such costs to the municipal assessor prior to March 1st.

Sec. 2. 33 MRSA §593, sub-§4, as amended by PL 1991, c. 197, §1, is further amended to read:

4. Collection and receipt of money for taxes; tax bills. The managing entity may collect and receive money from time-share estate owners for the purpose of paying taxes assessed on time- share estates.

If the municipal officers have enacted an ordinance requiring that each whole condominium unit in which time-share estates have been created be valued for real estate tax purposes as if the unit were owned by a single taxpayer or if otherwise required by an ordinance enacted by the municipal officers, the managing entity, or if there is none, the condominium's association, shall collect and receive money from time-share estate owners for the purpose of paying taxes assessed on time-share estates. The If the municipal officers have not enacted an ordinance requiring that each whole condominium unit in which time-share estates have been created be valued for real estate tax purposes as if the unit were owned by a single taxpayer, the ordinance requiring the managing entity to so collect and receive money must also require that the municipality send the managing entity a tax bill and information necessary to identify the assessed value of each time-share unit. Nothing in this subsection prevents a