An Act To Expand the Economic Development Benefit of Tax Increment Financing in Counties That Include Unorganized Territories

Sec. 1. 30-A MRSA §5235,  as enacted by PL 2001, c. 669, §1, is amended by adding at the end a new paragraph to read:

In addition to authorized project costs as defined in section 5225, subsection 1, the development program for a development district or tax increment financing district located within the unorganized territory of a county may fund county economic and community development, as defined in section 125, subsection 1, paragraph A, for that county.

summary

This bill allows a development program for a development district or tax increment financing district located within the unorganized territory of a county to fund the development activity for that county.