| 124th MAINE LEGISLATURE | ||||||
| LD 386 | LR 12(01) | |||||
| An Act To Establish a Process for the Determination of a Reasonable Price in the Use of Eminent Domain by the Maine Turnpike Authority | ||||||
| Preliminary Fiscal Impact Statement for Original Bill | ||||||
| Sponsor: Rep. Hill of York | ||||||
| Committee: Transportation | ||||||
| Fiscal Note Required: Yes | ||||||
| Preliminary Fiscal Impact Statement | ||||||
| Potential loss of ability to issue tax exempt debt - Maine Turnpike Authority | ||||||
| Fiscal Detail and Notes | ||||||
| Part of the Authority's ability to issue tax exempt debt is its ability to exercise eminent domain, which will be limited by this legislation. There is the potential that under this legislation the Authority could lose its ability to issue new tax exempt debt. The Authority believes the bill could also jeopardize the tax exempt status of the $418 million in bonds already issued and outstanding. | ||||||