Whereas, the Town of Ashland is the host community to the Boralex Ashland, Inc., formerly Northeast Empire Limited Partnership #II, biomass electrical generation facility; and

Whereas, as a result of severe disruptions in the economics and operations of the biomass electrical generation industry, the Town of Ashland has experienced a sudden and severe disruption of its municipal valuation related to the year 2001 municipal valuation relied upon by the State for purposes of establishing the 2003 state valuation, as determined by the Department of Administrative and Financial Services, Maine Revenue Services, Property Tax Division in September of 2002; and

Whereas, Maine Revenue Services, Property Tax Division has completed its state valuations and the appeal period for the same has passed; and

Whereas, absent this special legislation, there is no means for Maine Revenue Services, Property Tax Division to recalculate an adjusted state valuation for the Town of Ashland for the 2003 state valuation; 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, be it

Sec. 1. State valuation for Town of Ashland for year 2003. Resolved: That, due to the sudden and severe disruption of valuation caused by changes in the economics and operations of the biomass electrical generation industry, notwithstanding the Maine Revised Statutes, Title 36, sections 208 and 208-A, the State Tax Assessor shall reduce the state valuation for the Town of Ashland for the year 2003 state valuation to $66,950,000.

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

SUMMARY

This resolve directs the State Tax Assessor to reduce the state valuation for the Town of Ashland by approximately 12% to $66,950,000.