Amend the bill by striking out all of sections 1 and 2 and inserting the following:
‘Sec. 1. 36 MRSA §683, sub-§1-C is enacted to read:
Amend the bill by striking out all of section 4 and inserting the following:
‘Sec. 4. 36 MRSA §683, sub-§5, as amended by PL 2015, c. 267, Pt. J, §3, is further amended to read:
Amend the bill by adding after section 5 the following:
‘Sec. 6. Appropriations and allocations. The following appropriations and allocations are made.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Homestead Property Tax Exemption - Mandate Reimbursement 0887
Initiative: Provides funding to reimburse municipalities for the cost of the mandated changes made to the homestead property tax exemption program.
| GENERAL FUND |
2017-18 |
2018-19 |
|
All Other
|
$0 |
$85,000 |
|
 |
|
| GENERAL FUND TOTAL |
$0 |
$85,000 |
Homestead Property Tax Exemption Reimbursement 0886
Initiative: Provides funding to reimburse municipalities for 100% of the cost to increase the homestead property tax exemption from $20,000 to $50,000 for certain applicants 75 years of age or older for property tax years beginning on or after April 1, 2018.
| GENERAL FUND |
2017-18 |
2018-19 |
|
All Other
|
$0 |
$15,375,000 |
|
|
|
| GENERAL FUND TOTAL |
$0 |
$15,375,000 |
| ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF |
|
|
| DEPARTMENT TOTALS |
2017-18 |
2018-19 |
|
|
|
|
GENERAL FUND
|
$0 |
$15,460,000 |
|
|
|
| DEPARTMENT TOTAL - ALL FUNDS |
$0 |
$15,460,000 |
’
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.
SUMMARY
This amendment makes technical corrections to facilitate administration of the increased homestead property tax exemption of persons who are at least 75 years of age. It also provides funding to reimburse municipalities for revenue lost due to the increase in the homestead property tax exemption.
FISCAL NOTE REQUIRED
(See attached)