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LD1729 • 2025

An Act to Increase the Rate of Reimbursement to Municipalities for Revenue Lost as a Result of the Maine Resident Homestead Property Tax Exemption

An Act to Increase the Rate of Reimbursement to Municipalities for Revenue Lost as a Result of the Maine Resident Homestead Property Tax Exemption

Taxes
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Senator Richard Bennett
Last action
2025-05-21
Official status
Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act to Increase the Rate of Reimbursement to Municipalities for Revenue Lost as a Result of the Maine Resident Homestead Property Tax Exemption

An Act to Increase the Rate of Reimbursement to Municipalities for Revenue Lost as a Result of the Maine Resident Homestead Property Tax Exemption Sponsor: Senator Richard Bennett Reference committee: Taxation Latest committee action: Reported Out; ONTP

What This Bill Does

  • An Act to Increase the Rate of Reimbursement to Municipalities for Revenue Lost as a Result of the Maine Resident Homestead Property Tax Exemption Sponsor: Senator Richard Bennett Reference committee: Taxation Latest committee action: Reported Out; ONTP

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2025-05-21 Senate

    Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)

  2. 2025-05-20 Committee

    Reported Out; ONTP

  3. 2025-05-15 Committee

    Work Session Held

  4. 2025-05-15 Committee

    Voted; ONTP

  5. 2025-04-22 House

    The Bill was REFERRED to the Committee on TAXATION . In concurrence. ORDERED SENT FORTHWITH.

  6. 2025-04-22 Committee

    Referred to Committee on Taxation.

Official Summary Text

An Act to Increase the Rate of Reimbursement to Municipalities for Revenue Lost as a Result of the Maine Resident Homestead Property Tax Exemption
Sponsor:
Senator Richard Bennett
Reference committee:
Taxation
Latest committee action:
Reported Out; ONTP

Current Bill Text

Read the full stored bill text 
Printed on recycled paper
132nd MAINE LEGISLATURE
FIRST SPECIAL SESSION-2025
Legislative Document No. 1729
S.P. 675 In Senate, April 22, 2025
An Act to Increase the Rate of Reimbursement to Municipalities for
Revenue Lost as a Result of the Maine Resident Homestead
Property Tax Exemption
Reference to the Committee on Taxation suggested and ordered printed.
DAREK M. GRANT
Secretary of the Senate
Presented by Senator BENNETT of Oxford.
Cosponsored by Senator: BICKFORD of Androscoggin, Representatives: CARUSO of
Caratunk, FRIEDMANN of Bar Harbor, HEPLER of Woolwich.

Page 1 - 132LR0806(01)
1Be it enacted by the People of the State of Maine as follows:
2Sec. 1. 36 MRSA §685, sub-§2, ¶D, as enacted by PL 2021, c. 398, Pt. PPPP, §3,
3 is amended to read:
4 D. For property tax years beginning on April 1, 2022, 73% of the taxes lost by reason
5 of the exemptions under section 683, subsections 1 and 1‑B; and
6Sec. 2. 36 MRSA §685, sub-§2, ¶E, as amended by PL 2023, c. 412, Pt. II, §1, is
7 further amended to read:
8 E. For property tax years beginning on or after April 1, 2023, April 1, 2024 and April
9 1, 2025, 76% of the taxes lost by reason of the exemptions under section 683,
10 subsections 1 and 1‑B. ; and
11Sec. 3. 36 MRSA §685, sub-§2, ¶F is enacted to read:
12 F. For property tax years beginning on or after April 1, 2026, the percentage of the
13 taxes lost by reason of the exemptions under section 683, subsections 1 and 1-B that is
14 3 percentage points higher than the percentage reimbursed to the municipality in the
15 year immediately prior. The annual increase in reimbursement must continue until the
16 percentage of reimbursement to the municipality reaches 100% of the taxes lost by
17 reason of the exemptions under section 683, subsections 1 and 1-B.
18SUMMARY
19 This bill increases the reimbursement rate by the State to municipalities for revenue
20 lost as a result of the Maine resident homestead property tax exemption by 3 percentage
21 points each year, beginning in 2026, until the reimbursement rate is 100%, which would be
22 in 8 years under the bill. The current rate of reimbursement is 76%.
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