Amend the bill by inserting after the enacting clause and before section 1 the following:
‘Sec. 1. 36 MRSA §507, sub-§5 is enacted to read:
Amend the bill in section 1 in subsection 1-B in the 5th line (page 1, line 8 in L.D.) by striking out the following: " $40,000" and inserting the following: ' $20,000'
Amend the bill by adding after section 3 the following:
‘Sec. 4. Appropriations and allocations. The following appropriations and allocations are made.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Homestead Property Tax Exemption Reimbursement 0886
Initiative: Provides funding to increase the homestead property tax exemption from $20,000 to $30,000 and to increase the reimbursement to municipalities from 62.5% to 100%.
| GENERAL FUND |
2019-20 |
2020-21 |
|
All Other
|
$0 |
$71,960,000 |
|
 |
|
| GENERAL FUND TOTAL |
$0 |
$71,960,000 |
’
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.
summary
This amendment increases the homestead property tax exemption to $30,000 instead of $50,000 as in the bill and requires municipalities to include a statement on tax bills regarding the availability of the homestead tax exemption and providing information on how to apply. The amendment also adds an appropriations and allocations section.
FISCAL NOTE REQUIRED
(See attached)