‘Resolve, Requiring the Submission of Information Necessary To Analyze the Adequacy of the Property Tax Fairness Credit in Providing Property Tax Relief’

‘Sec. 1. Submission of information. Resolved: That the Department of Administrative and Financial Services, Bureau of Revenue Services shall provide to the Joint Standing Committee on Taxation by January 10, 2016:

1. Information regarding the discontinued Maine Residents Property Tax Program. Information regarding households qualifying for benefits under the discontinued Maine Residents Property Tax Program for the 5 claims years prior to the termination of benefits under the program on August 1, 2013 including the number of households receiving benefits and the average household benefits provided categorized by whether the claimants were elderly or nonelderly, were single-member households or households with 2 or more members or were renters or homeowners. The information also must be categorized by household income in $10,000 increments;

2. Information regarding the property tax fairness credit. Information regarding households qualifying for the property tax fairness credit pursuant to the Maine Revised Statutes, Title 36, sections 5219-II and 5219-KK for all tax years for which the credit has been in existence and projected for the next 5 years including the number of households receiving the credit and the average household credit categorized by whether the claimants were elderly or nonelderly, were single income tax filers or filers with 2 or more exemptions or were renters or homeowners. The information also must be categorized by household income in $10,000 increments; and

3. Impact of changes on the calculation of tax relief. An identification and analysis of changes to the Maine Residents Property Tax Program and the property tax fairness credit over the years subject to reporting under subsections 1 and 2, describing the impact of the changes on the amount of tax relief available to recipients under the program and the credit; and be it further

Sec. 2. Review; legislation. Resolved: That the Joint Standing Committee on Taxation shall review and analyze the information provided under section 1 and may submit a bill to the Second Regular Session of the 127th Legislature related to property tax relief.’