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ME LD1621
Bill
Status
5/20/2025
Primary Sponsor
William Bridgeo
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AI Summary
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Amends Maine law (30-A MRSA §5225) to add lake restoration and protection as an authorized use of tax increment financing (TIF) district revenues
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Eligible lake projects include alum treatments, invasive aquatic plants monitoring, nuisance species monitoring, and erosion control programs
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Municipalities may conduct projects directly or designate other persons to carry out the work
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TIF revenues may also be used to provide matching funds for grant programs supporting these lake protection activities
Legislative Description
An Act to Allow Municipalities to Use Tax Increment Financing Revenues to Support Lake Restoration and Protection Activities
Tax Increment Financing
Last Action
Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)
5/20/2025