APPROVED CHAPTER
JULY 27, 2023 472
BY GOVERNOR PUBLIC LAW
STATE OF MAINE
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IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-THREE
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H.P. 1118 - L.D. 1739
An Act to Extend Development District Tax Increment Financing Districts
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 30-A MRSA §5224, sub-§2, ¶H, as repealed and replaced by PL 2019, c.
140, §1, is amended by amending subparagraph (1) to read:
(1) A development district that is a tax increment financing district may not exceed
a total of 30 tax years beginning with the tax year in which the designation of the
development district is effective pursuant to section 5226, subsection 3 or, if
specified in the development program, the subsequent tax year; and, except that,
during the 10 calendar years after the general effective date of laws enacted during
the First Special Session of the 131st Legislature, a district may be extended an
additional 20 years if the district uses at least 75% of tax increment financing
revenue for affordable housing projects or transit-oriented development. A district
that is extended under this subparagraph may continue to use the original assessed
value of the district.
For purposes of this subparagraph, "affordable housing" means a decent, safe and
sanitary dwelling, apartment or other living accommodation for a household whose
income does not exceed 120% of the median income for the area as defined by the
United States Department of Housing and Urban Development under the United
States Housing Act of 1937, Public Law 75-412, 50 Stat. 888, Section 8; "transit-
oriented development" means a type of development that links land use with transit
facilities by combining housing with complementary public uses, including jobs,
retail or services establishments that are located in transit-served nodes or
corridors; and "original assessed value" means the taxable assessed value of a
district as of March 31st of the tax year preceding the year in which it was
designated by a municipality and approved by the commissioner under section
5226, subsection 2; and
Page 1 - 131LR0569(05)


Statutes affected:
Bill Text LD 1739, HP 1118: 30-A.5224
Bill Text ACTPUB , Chapter 472: 30-A.5224