LD 1107
pg. 2
Page 1 of 3 An Act To Encourage Local Affordable Housing, Open Space and Shore Access throu... Page 3 of 3
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LR 1023
Item 1

 
budget and assessment without consideration of the amount received
pursuant to subsection 2.__Funds within the segregated account may
be used only for the development of affordable, middle-income,
senior or workforce housing or for the purchase of open space,
shore access points or community working properties that are
accessible to and available for use by the public, including
providing grants for these purposes.__Revenue generated pursuant to
this section may not be used to supplant local funds.

 
4.__Effect on revenue sharing and other state-aid programs.
Revenue received pursuant to subsection 2 may not be considered
to be receipts from the taxes imposed under this Part for the
purpose of transfers to the Local Government Fund under Title 30-
A, section 5681.__Revenue received pursuant to subsection 2 may
not be used to reduce or eliminate any funding otherwise due the
participating municipality under any provision of law providing
aid to the participating municipality, including, but not limited
to, aid to schools, roads, public assistance or jails.

 
5.__Referendum.__The question of whether to impose a local
option real estate transfer tax must be submitted to the legal
voters of an eligible municipality that seeks to impose the local
option real estate transfer tax.

 
The petition process and the voting at elections held in cities
and towns must be conducted in accordance with Title 30-A,
sections 2528, 2529 and 2532 even if the municipality has not
accepted the provisions of section 2528.__The voting at elections
held in municipalities must be conducted in accordance with Title
21-A.__The municipal clerk shall make a return of the results,
certify the results and send them to the Secretary of State. The
Secretary of State shall forward the results to the register of
deeds for that municipality.

 
The local option sales and use tax may be discontinued by
referendum conducted in the same manner as the referendum
adopting the tax under this section.

 
9.__Effective date of tax.__The tax authorized by this section
takes effect 120 days after the municipal referendum vote under
subsection 5 if it is accepted by a majority of the local voters
voting at the election and the total number of votes cast equals
or exceeds 20% of the total number of votes cast in that
municipality in the most recent gubernatorial election.

 
SUMMARY

 
This bill allows a municipality to impose a local option real
estate transfer tax of up to .2% on property valued at


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