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ME LD185
Bill
Status
6/2/2025
Primary Sponsor
Anne-Marie Mastraccio
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AI Summary
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Increases the cap on municipal Tax Increment Financing (TIF) revenues that can be spent on public safety facilities (including emergency shelters) from 15% to 25% of the captured assessed value of a development district
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Raises the cap on TIF revenues for construction or renovation of municipal facilities providing local services from 15% to 25% of captured assessed value
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Expands eligible administrative facility costs from only "central administrative office" to any facilities owned by municipalities or plantations used to provide municipal services
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Became law without the Governor's signature on June 15, 2025 as Public Law Chapter 310
Legislative Description
An Act to Expand Opportunities to Invest Municipal Tax Increment Financing Revenues
Tax Increment Financing
Last Action
PASSED TO BE ENACTED, in concurrence.
6/2/2025