Chapter 31 - AFFORDABLE HOUSING DEVELOPMENT DISTRICT - RECOVERY OF PUBLIC REVENUE

  1. § 346-31-1 - Definitions
  2. § 346-31-2 - Recovery of Public Revenue

Summary: Subject to the satisfaction of certain conditions and the approval of the Maine State Housing Authority, municipalities may create affordable housing development districts within their corporate limits. A municipality that creates an affordable housing development district benefits from the use of increased property values relating to the district without any offsets to the municipality's State revenue sharing and education subsidies or increase in county taxes. In the event that an affordable housing development district fails to continue satisfying conditions of its creation, this rule provides for the recovery of public revenue resulting from these beneficial tax shifts.

Notes

EFFECTIVE DATE:
June 19, 2004 - filing 2004-160, major substantive

STATUTORY AUTHORITY: 30-A M.R.S.A. §§5250-E .2, 4741.1.

State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.

No prior version found.