8.__Notice of decision by State Tax Assessor; appeal by taxpayer.__The State Tax Assessor shall send notice to the taxpayer, in the manner and of the type provided for in section 151 in the case of a reconsideration decision, of any decision to disqualify an exemption.__The taxpayer may seek reconsideration pursuant to section 151 of the State Tax Assessor's decision to disqualify any exemption claimed by the taxpayer.__ Notwithstanding any other provision of law, if a taxpayer appeals a decision of the State Tax Assessor to disqualify an exemption and does not prevail in that appeal, the local taxing jurisdiction must issue a supplemental assessment with respect to the property at issue within 90 days after the appeal has been resolved in the State Tax Assessor's favor, and the taxpayer may not appeal that supplemental assessment except as to issues of valuation.

9.__Legislative findings.__The Legislature finds that encouragement of the growth of capital investment in this State is in the public interest and promotes the general welfare of the people of the State.__The Legislature further finds that the high cost of owning qualified business property in this State is a disincentive to the growth of capital investment in this State.__ The Legislature further finds that the tax exemption set forth in this section is a reasonable means of overcoming this disincentive and will encourage capital investment in this State.

Sec. A-2. Economic development and job creation. Savings to the State resulting from the establishment of a property tax exemption for business equipment and machinery under the Maine Revised Statutes, Title 36, section 662 must be used to establish a fund for economic development and job creation in municipalities affected by the exemption and in economically distressed communities. The Commissioner of Administrative and Financial Services shall establish a procedure for creation of the fund and identification of affected municipalities and distressed communities.

PART B

Sec. B-1. 20-A MRSA §1310, sub-§6, as repealed and replaced by PL 2003, c. 212, §1, is amended to read:

6. Enforcement. If a municipal treasurer fails to pay the installment due, or any part, on the dates required, to initiate collection procedures, the treasurer of the school administrative district may notify the municipal treasurer of the failure to