§ 30-A §5263 — Definitions

Maine § 30-A §5263

• Jurisdiction: Maine
• Title 30-A: MUNICIPALITIES AND COUNTIES
• Part 2: MUNICIPALITIES
• Ch. 207-A: PULP AND PAPER MANUFACTURING SECTOR STABILIZATION ASSISTANCE

Text

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.
1.
Captured assessed value.
"Captured assessed value" means the valuation amount by which the current assessed value of a pulp and paper tax increment financing district exceeds the original assessed value of the district. If the current assessed value is equal to or less than the original, there is no captured assessed value.
2.
Commissioner.
"Commissioner" means the Commissioner of Economic and Community Development.
3.
Designee.
"Designee" means a business engaged in the pulp and paper industry that is selected by a municipality as a partner in a development district.
4.
Development district.
"Development district" means a specified area within the corporate limits of a municipality that has been designated as provided under section 5264 and that is to be developed by the municipality or its designee under a development program.
5.
Development program.
"Development program" means a statement of means and objectives designed to improve and modernize the manufacturing facilities and related structures and equipment within the development district. The statement must include:
6.
Environmental improvement project.
"Environmental improvement project" means a capital investment necessary to comply with the requirements of federal regulation finally adopted by the United States Environmental Protection Agency pursuant to its rulemaking initiated on December 17, 1993; Federal Register, Vol. 58, No. 241, pages 66078 to 66216; or otherwise required under the United States Clean Air Act or the United States Clean Water Act or under any state law or regulation enacted or adopted to implement the requirements of these federal laws and regulations.
7.
Financial plan.
"Financial plan" means a statement of the costs and sources of revenue required to accomplish the development program. The statement must include:
8.
Original assessed value.
"Original assessed value" means the assessed value of the development district as of March 31st of the preceding tax year.
9.
Project costs.
"Project costs" means expenditures made or estimated to be made or monetary obligations incurred or estimated to be incurred by the municipality or, for environmental improvement projects, by its designee under the development program after July 1, 1994 that are listed in a project plan as costs of improvements, including public works, acquisition, construction or rehabilitation of land or improvements for sale or use by industrial users, within a development district plus costs incidental to those improvements, reduced by income, special assessments or other revenues, other than tax increments, received or reasonably expected to be received by the municipality in connection with the implementation of this plan.
10.
Pulp and paper industry.
"Pulp and paper industry" means any industrial activity currently described by the United States Office of Management and Budget under Standard Industrial Classification 261, 262 or 263 or those activities classified under classification 2679 that press or mold wood pulp or recycled fiber to make products, including, without limitation, any activity regarding the treatment, recycling or disposal of wastewater, air emissions, solid residues or other related manufacturing by-products. This term does not include activity relating to, associated with or otherwise involving the growth, harvesting, transportation or preparation of timber, pulpwood or other wood products prior to the manufacture of pulp, paper or paperboard.
11.
Pulp and paper tax increment financing district.
"Pulp and paper tax increment financing district" means a type of development district, or portion of a district, that uses tax increment financing under section 5265. For the purposes of this chapter, "tax increment financing district" means a pulp and paper tax increment financing district.
12.
Tax increment.
"Tax increment" means that portion of all real and personal property taxes assessed by a municipality in excess of any state, county or special district tax upon the captured assessed value of property in the development district.

Legislative History

PL 1993, c. 671, §2 (NEW). PL 1995, c. 462, §A53 (AMD).