36 §700-A. Additional municipal compensation
Title 36: TAXATION
Part 2: PROPERTY TAXES
Chapter 105: CITIES AND TOWNS
Subchapter 4-C: BUSINESS EQUIPMENT TAX EXEMPTION HEADING: PL 2005, C. 623, §1 (NEW)
§700-A. Additional municipal compensation
1. Transfers to Disproportionate Tax Burden Fund. Pursuant to section 699, subsection 2 and in order to provide additional compensation to municipalities affected by property tax exemptions provided under this subchapter, the Treasurer of State shall make the following transfers as provided in section 700-B to the Disproportionate Tax Burden Fund established in Title 30-A, section 5681, subsection 3:
A. In fiscal year 2009-10, $2,000,000; [2005, c. 623, §1 (NEW).]
B. In fiscal year 2010-11, $2,500,000; [2005, c. 623, §1 (NEW).]
C. In fiscal year 2011-12, $3,000,000; [2005, c. 623, §1 (NEW).]
D. In fiscal year 2012-13, $3,500,000; and [2005, c. 623, §1 (NEW).]
E. In fiscal year 2013-14 and subsequent fiscal years, $4,000,000. [2005, c. 623, §1 (NEW).]
[ 2005, c. 623, §1 (NEW) .]
SECTION HISTORY
2005, c. 623, §1 (NEW).