An Act To Allow the City of Augusta To Adjust the Definition of "Original Assessed Value" for the City of Augusta's Performance Food Group Municipal Tax Increment Financing District and To Validate the Assessment, Commitment and Collection of Property Taxes Dedicated for the District for the Fiscal Years 2018-19 and 2019-20

Emergency preamble. Whereas,  acts and resolves of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and

Whereas,  the Legislature has established a municipal tax increment financing program, pursuant to the Maine Revised Statutes, Title 30-A, chapter 206, as a local economic development tool to permit municipalities to finance new development projects; and

Whereas,  the City of Augusta may suffer financial liability because it did not timely complete the steps statutorily required for designation of a municipal tax increment financing district; and

Whereas,  in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,

Sec. 1. Authorization to adjust the definition of original assessed value. Notwithstanding the Maine Revised Statutes, Title 30-A, section 5222, subsection 13, the City of Augusta may define "original assessed value" for the Performance Food Group municipal tax increment financing district designated on July 2, 2016 as the assessed value of the district as of March 31, 2016.

Sec. 2. Authorization to adjust the start date of the district. Notwithstanding the Maine Revised Statutes, Title 30-A, chapter 206, the effective date of the Performance Food Group municipal tax increment financing district is July 1, 2017, with a duration of up to 30 consecutive years.

Sec. 3. Assessment, tax commitment and tax collection of property taxes dedicated for the Performance Food Group district for fiscal years 2018-19 and 2019-20 are ratified, made legal and valid. Notwithstanding the Maine Revised Statutes, Title 36, section 504, the assessment, commitment and collection of the portion of the assessed property taxes for the fiscal years 2018-19 and 2019-20 dedicated to the Performance Food Group municipal tax increment financing district designated on July 2, 2016 is ratified, made legal and valid.

Emergency clause. In view of the emergency cited in the preamble, this legislation takes effect when approved.

SUMMARY

This bill authorizes the City of Augusta to adjust the definition of "original assessed value" for the City of Augusta's Performance Food Group municipal tax increment financing district and to validate the assessment, commitment and collection of property taxes dedicated for the Performance Food Group municipal tax increment financing district for the fiscal years 2018-19 and 2019-20.