128th MAINE LEGISLATURE
		LD 1629		LR 2290(17)
	An Act To Protect Homeowners Affected by Tax Lien Foreclosure
	Fiscal Note for Bill as Engrossed with: C "A" (H-771) S "D" (S-551) to C "A" (H-771)
	Committee: Taxation
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	$2,250	$2,250	$2,250
Appropriations/Allocations
	General Fund		$0	$2,250	$2,250	$2,250
State Mandates
	Required Activity				Unit Affected	Local Cost
	Municipalities are required to engage a real estate broker, sell at fair market value or price anticipated by the broker and remit any excess proceeds to the homeowner when sold.				Municipality	$2,250
	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.