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An Act To Allow Municipalities To Determine the Duration of Development Districts Funded by Assessments
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 30-A MRSA §5224, sub-§2, ¶H, as amended by PL 2013, c. 184, §3, is repealed and the following enacted in its place:
 
H.  The duration of the development district, subject to the following conditions:
 
(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
 
(2) A development district that is funded by assessments under section 5228 and that is not a tax increment financing district is not limited in duration unless a limitation on duration is established by the legislative body of the municipality or plantation adopting the development program. Any limitation in the duration of a development district that is not a tax increment financing district and that is established by the legislative body of the municipality or plantation may later be extended by the legislative body; and
 
Effective 90 days following adjournment of the 129th Legislature, First Regular Session, unless otherwise indicated.