| Sec. 3. Report. Resolved: That the bureau shall present a report to |
| the joint standing committee of the Legislature having |
| jurisdiction over taxation matters by January 10, 2007 describing |
| the results of its review conducted pursuant to section 1. The |
| report must include a description of how other states treat |
| valuation issues for affordable housing projects both with and |
| without federal tax credits and the impact of those credits on |
| valuation. The report must describe practices used in Maine to |
| assess affordable housing projects and identify any |
| inconsistencies. The report must evaluate the application of the |
| Constitution of Maine to assessment practices for affordable |
| housing projects. The report must include any recommendations |
| for statutory changes the bureau considers necessary. The bureau |
| may submit legislation to implement its recommendations. After |
| receipt and review of the report the joint standing committee may |
| report out to the First Regular Session of the 123rd Legislature |
| legislation to implement the recommendations related to the |
| report; and be it further |
