Maine Revised Statutes Title 36 Sec. 6756 – Criteria for approval
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Prior to issuing a certificate of approval for an employment tax increment financing program, the commissioner must find that: [PL 1995, c. 669, §5 (NEW).]
1. Approval needed. The economic development described in the program will not go forward without the approval;
[PL 1995, c. 669, §5 (NEW).]
Terms Used In Maine Revised Statutes Title 36 Sec. 6756
- Commissioner: means the Commissioner of Economic and Community Development. See Maine Revised Statutes Title 36 Sec. 6753
- Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
2. Contribution to State. The program will make a contribution to the economic well-being of the State; and
[PL 1995, c. 669, §5 (NEW).]
3. No substantial harm to existing businesses. The economic development described in the program will not result in a substantial detriment to existing businesses in the State. In order to make this determination, the commissioner shall consider, pursuant to Title 5, chapter 375, subchapter II, those factors the commissioner determines necessary to measure and evaluate the effect of the proposed program on existing businesses, including whether any adverse economic effect of the proposed program on existing businesses is outweighed by the contribution described in subsection 2.
[PL 1995, c. 669, §5 (NEW).]
SECTION HISTORY
PL 1995, c. 669, §5 (NEW). PL 2019, c. 343, Pt. IIII, §11 (AMD).