128th MAINE LEGISLATURE
		LD 1629		LR 2290(05)
	An Act To Protect the Elderly from Tax Lien Foreclosures
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
State Mandate - Funded
			FY 2017-18	FY 2018-19	Projections  FY 2019-20	Projections  FY 2020-21
Net Cost (Savings)
	General Fund		$0	$825,255	$825,255	$825,255
Appropriations/Allocations
	General Fund		$0	$825,255	$825,255	$825,255
State Mandates
	Required Activity				Unit Affected	Local Cost
	Provide written notice to homeowner receiving a tax lien that he or she can file an application for tax abatement.  Engage a real estate broker, sell at fair market value or price anticipated by broker, remit excess proceeds to the homeowner when sold.				Municipality	Significant statewide
	The bill includes a General Fund appropriation to the Department of Administrative and Financial Services to reimburse municipalities for 90% of the costs of selling property that has been acquired through tax lien foreclosure.
Fiscal Detail and Notes
	Additional costs to the Department of Professional and Financial Regulation associated with this legislation can be absorbed within existing budgeted resources.