An Act To Preserve Home Ownership in the State by Reducing the Property Tax Burden
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §6207, sub-§1, ¶A-1, as amended by PL 2005, c. 2, Pt. E, §4 and as affected by §§7 and 8, is further amended to read:
A-1. Fifty percent of that portion of the benefit base that exceeds 4% but does not exceed 8% 6% of income plus 100% of that portion of the benefit base that exceeds 8% 6% of income to a maximum payment of $2,000 $3,000.
Sec. 2. Application. This Act applies to claims for benefits under the Maine Residents Property Tax Program filed for application periods that begin on or after August 1, 2007.
summary
This bill amends the Maine Residents Property Tax Program, also known as the Circuitbreaker Program, by:
1. Decreasing the threshold percentage at which 100% of the benefit is payable from 8% to 6%; and
2. Increasing the maximum benefit to $3,000.