19- 100 C.M.R. ch. 2, § 1
The pulp and paper tax increment finance program and the environmental investment program are designed to assist companies engaged in the pulp and paper industry in the financing of substantial capital investments in environmental improvement projects that are required by state and federal regulation of the pulp and paper industry. This chapter sets forth the provisions by which the pulp and paper industry may utilize these programs, and describes application requirements, state review procedures, state designation procedures, annual reporting requirements, calculation of valuation eligible for tax increment financing, and calculation of distributive shares for the pulp and paper environmental investment fund.
All terms used but not defined in this Chapter shall have the meanings ascribed to those terms in Chapter 207-A of Title 30-A of the Maine Revised Statutes, as amended. The following terms shall have the definitions hereinafter set forth:
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.
Certified Elements. "Certified Elements" means (1) those elements identified under the certification by rule provisions of the Maine Department of Environmental Protection Regulations to be adopted, as elements of an environmental improvement project, and/or (2) any element otherwise certified by the Commissioner of the Department of Environmental Protection pursuant to 30-A M.R.S.A. §5264(3)(B) and for which an applicant is eligible to apply for reimbursement of a portion of its costs pursuant to 30-A M.R.S.A. §5270.
Commissioner. "Commissioner" means the Commissioner of the Department of Economic and Community Development.
Department. "Department" means the Department of Economic and Community Development.
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:
Development program amendment. "Development program amendment" means any change to a state approved development program, including but not limited to any changes in items (a) through (j) of the definition of "Development Program".:
Development program fund. "Development program fund" means the account or accounts into which pulp and paper tax increment revenues are deposited. These accounts must be managed in accord with the provisions of 30-A M.R.S.A. §5265, sub-§3.
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, as amended, or under any legislation passed in replacement of such Acts or regulations, or any regulations under such Acts, or under any state law or regulation enacted or adopted to implement the requirements of these federal laws and regulations.
Evidences of indebtedness. "Evidences of indebtedness" as used in 30-A M.R.S.A. §§265(3)(A)(1) means any notes, long-term or short-term, bonds, leases, contractual commitments for the payment of money over a pre-established term, or any other evidences of indebtedness whatsoever issued, established or otherwise entered into by the municipality or its designee in connection with an environmental improvement project.
Financial plan. "Financial plan" means a statement of the costs and sources of revenue required to accomplish the development program. The statement must include:
Fiscal year. "Fiscal year" means the period of time from April 1 through March 31 of each year, which corresponds to the municipal tax year.
Governing body of the municipality. "Governing body of the municipality" means the legislative body of a municipality at any regular, special or other duly constituted meeting. For pulp and paper tax increment financing in an unorganized territory, the county commissioners shall act as the municipal legislative body.
Manufacturing facilities. "Manufacturing facilities" as used in 30-A M.R.S.A. §5263(5) includes all improvements of any nature whatsoever located within the boundaries of a development district and owned or used by any business engaged in the pulp and paper industry including, without limiting the generality of the foregoing, all transportation, staging, warehousing, preparation, processing and office facilities related to manufacturing facilities, even if located in separate structures.
Original assessed value. "Original assessed value" means the assessed value of the development district as of the March 31 immediately preceding the date of designation of the district.
Physical description. "Physical description" means a description of the pulp and paper tax increment financing district, including:
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 2679 that press or mold wood pulp or recycled fiber to make products, including, without limitation, any related activity involving 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; provided, however, that all transportation and preparation of timber, pulpwood or other wood products shall be included in the term "pulp and paper industry" if such activity occurs within the boundaries of the development district.
Pulp and paper tax increment. "Pulp and paper tax increment" means that portion of all real and personal property taxes assessed by a municipality, apart from any state, county or special district tax, upon the captured assessed value of property in a development district.
Pulp and paper tax increment financing district. "Pulp and paper tax increment financing district" means a type of development district, or portion of a development district designated to use tax increment financing in accord with 30-A M.R.S.A. §5265.
Record of municipal approval. "Record of municipal approval" means the record of the local actions required pursuant to 30-A M.R.S.A. §5264 to designate a development district.
19- 100 C.M.R. ch. 2, § 1