An Act To Provide for Cooperation between Municipalities with Tax Increment Financing Districts
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 30-A MRSA §5225, sub-§4 is enacted to read:
4. Sharing authorized project costs. Contiguous municipalities with separate development districts may share the project costs authorized under subsection 1 for the same project if:
A. The same project costs related to that specific project are included in each municipality's development program; and
B. Each municipality indicates that the project costs specified in paragraph A are potentially shared project costs with the contiguous municipality.
summary
This bill allows contiguous municipalities with separate development districts to share the costs for a project that is authorized for inclusion in a development program.