Amend the bill by inserting after section 2 the following:
‘Sec. 3. 36 MRSA §6250, sub-§3-A is enacted to read:
Amend the bill in section 3 in subsection 1 in paragraph A in the last line (page 1, line 21 in L.D.) by striking out the following: "and" and inserting the following: ' and'
Amend the bill in section 3 in subsection 1 in paragraph B in the last line (page 1, line 25 in L.D.) by striking out the following: "." and inserting the following: ' . ; and'
Amend the bill in section 3 in subsection 1 by inserting after paragraph B the following:
‘ C. The individual has liquid assets of less than $50,000 or, in the case of 2 or more individuals filing a claim jointly, all the individuals together have liquid assets of less than $75,000.’
Amend the bill by inserting after section 4 the following:
‘Sec. 5. 36 MRSA §6252, sub-§4 is enacted to read:
Amend the bill by striking out all of sections 6 and 7.
Amend the bill in section 8 in §6255 by striking out all of subsection 3 (page 3, lines 36 and 37 in L.D.) and inserting the following:
Amend the bill by striking out all of sections 9 to 13 and 16 to 19.
Amend the bill by inserting after section 20 the following:
‘Sec. 21. 36 MRSA §6271, sub-§2, ¶¶B and C, as enacted by PL 2009, c. 489, §5, are amended to read:
B. The taxpayer is an owner of the eligible homestead, is at least 70 years of age on April 1st of the first year of eligibility and occupies the eligible homestead; and
C. The household income of the taxpayer does not exceed 300% of the federal poverty level . ; and
Sec. 22. 36 MRSA §6271, sub-§2, ¶D is enacted to read:
D. The property is not receiving a deferral of taxes under chapter 908.’
Amend the bill by inserting after section 21 the following:
‘Sec. 22. Appropriations and allocations. The following appropriations and allocations are made.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Elderly Tax Deferral Program 0650
Initiative: Provides one-time funding to develop and implement a computer application for a property tax deferral program.
| GENERAL FUND |
2017-18 |
2018-19 |
|
All Other
|
$100,000 |
$0 |
|
 |
|
| GENERAL FUND TOTAL |
$100,000 |
$0 |
Elderly Tax Deferral Program 0650
Initiative: Provides ongoing funding to reimburse municipalities for property taxes deferred under a property tax deferral program.
| GENERAL FUND |
2017-18 |
2018-19 |
|
All Other
|
$0 |
$1,600,000 |
|
|
|
| GENERAL FUND TOTAL |
$0 |
$1,600,000 |
Elderly Tax Deferral Program 0650
Initiative: Provides ongoing funding for one Property Appraiser I position and related costs to implement and administer a property tax deferral program.
| GENERAL FUND |
2017-18 |
2018-19 |
|
POSITIONS - LEGISLATIVE COUNT
|
1.000 |
1.000 |
|
Personal Services
|
$40,589 |
$82,322 |
|
All Other
|
$12,663 |
$11,583 |
|
|
|
| GENERAL FUND TOTAL |
$53,252 |
$93,905 |
| ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF |
|
|
| DEPARTMENT TOTALS |
2017-18 |
2018-19 |
|
|
|
|
GENERAL FUND
|
$153,252 |
$1,693,905 |
|
|
|
| DEPARTMENT TOTAL - ALL FUNDS |
$153,252 |
$1,693,905 |
’
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.
summary
This amendment removes the provisions of the bill that eliminate the requirement that interest accrues on deferred property taxes and provides that interest accrues on deferred property taxes at the prime rate published in the Wall Street Journal minus one percentage point. The amendment adds a maximum asset standard for eligibility of property owners and provides that property may not be subject to deferral under both the state deferral program and a municipal deferral program. The amendment also provides an appropriation to cover the cost of state administration of the program and the initial cost of making payments to municipalities for deferred taxes.
FISCAL NOTE REQUIRED
(See attached)