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ME LD237

Bill

Official Source

Status

Failed

3/20/2025

Primary Sponsor

Joseph Baldacci

Click for details

Origin

Senate

132nd Legislature

AI Summary

  • Increases state-municipal revenue sharing from the current rate to 5.5% of state sales and income tax receipts beginning January 1, 2026
  • Further increases the revenue sharing percentage to 6% beginning January 1, 2027
  • Requires the State Controller to transfer funds to the Local Government Fund by the 10th day of each month
  • Maintains the requirement that 20% of Local Government Fund transfers go to the Disproportionate Tax Burden Fund for distribution to qualifying municipalities
  • Effective date is January 1, 2026

Legislative Description

An Act to Increase the Percentage of Funds Provided to Municipalities Through State-Municipal Revenue Sharing

Revenue Sharing

Last Action

Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)

3/20/2025

Committee Referrals

Taxation1/16/2025

Full Bill Text

No bill text available