Legislative committee advances bill to cover funding gap for Property Tax Stabilization Program facing municipalities
AUGUSTA - The Legislature's Appropriations and Financial Affairs Committee voted Tuesday to advance a bill sponsored by Rep. Melanie Sachs, D-Freeport, that would appropriate $15 million from the General Fund to fully cover the state's reimbursement to municipalities for costs associated with the now-repealed Property Tax Stabilization Program. The bill would also appropriate $50,000 to reimburse municipalities for administrative costs associated with the implementation of the program.
