1.Definitions.
As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
2.Fund established.
The Brunswick Naval Air Station Job Increment Financing Fund is established to receive job tax increment transfers from job creation in the base area. The fund must receive annually from the State the amount calculated under subsection 5.
3.Limitations.
The fund is subject to the following limitations.
4.Certification by authority.
By February 15th of each year, beginning in 2011, the authority shall provide a report identifying each employer located at the base area to the commissioner. By April 15th of each year, beginning in 2021, each employer located at the base area shall report to the commissioner the number of employees employed at
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1.
Definitions.
As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
2.
Fund established.
The Brunswick Naval Air Station Job Increment Financing Fund is established to receive job tax increment transfers from job creation in the base area. The fund must receive annually from the State the amount calculated under subsection 5.
3.
Limitations.
The fund is subject to the following limitations.
4.
Certification by authority.
By February 15th of each year, beginning in 2011, the authority shall provide a report identifying each employer located at the base area to the commissioner. By April 15th of each year, beginning in 2021, each employer located at the base area shall report to the commissioner the number of employees employed at the base area during the immediately preceding calendar year, the state income taxes withheld for each of those employees and any further information the commissioner may reasonably require.The commissioner shall certify annually to the assessor on or before June 1st of each year the following information:
5.
Procedure for payment of revenue to the fund.
On or before July 15th of each year, the assessor shall review the information required by subsection 4 and calculate the job tax increment for the preceding calendar year. The assessor shall also calculate the amount of the benefit base in the base area eligible for reimbursement to qualified Maine Employment Tax Increment Financing Program businesses pursuant to Title 36, chapter 917. Between July 1st and July 15th of each year, the assessor shall certify to the State Controller the total remaining job tax increment as a result of the limitation in subsection 3, paragraph D and the remaining benefit base after reimbursements have been made to qualified Maine Employment Tax Increment Financing Program businesses pursuant to Title 36, chapter 917. On or before July 31st of each year, the State Controller shall transfer 50% of the remaining job tax increment and 50% of the remaining benefit base to the state job tax increment contingent account established, maintained and administered by the State Controller from General Fund undedicated revenue within the withholding tax category. On or before July 31st of each year, the State Controller shall deposit this revenue into the fund and distribute the payments pursuant to subsection 3.
6.
Administration.
The Commissioner of Administrative and Financial Services shall administer the fund and may adopt rules pursuant to the Maine Administrative Procedure Act for implementation of the fund. Rules adopted pursuant to this subsection are routine technical rules pursuant to chapter 375, subchapter 2‑A.