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Bill to let towns opt into CPACER outside town meeting wins support from BFA and municipal association
Summary
SB 440 would allow municipalities to adopt CPACER through a select-board process instead of only at annual town meeting, clarifying opt-in/opt-out rules and notice requirements; Business Finance Authority and Municipal Association backed the amendment as a fix to implement last session's law.
Senate Bill 440, with a replace-all amendment, would allow municipalities to opt into CPACER (a commercial/property tax-based financing tool) through a select-board or council process rather than waiting for annual town meeting. Senator Dan Innes said the change would remove procedural barriers that have left at least 15 municipalities unable to participate.
James Key Wallace of the Business Finance Authority told the committee many communities requested the change and that the amendment clarifies public-notice requirements, opt-out procedures and the process for unincorporated areas, where county commissioners could opt in on behalf of an area.
Municipal Association input helped refine the amendment, and the committee heard no public opposition during the session.
The legislative fix is presented as a technical clarification to enable communities to use the finance tool more quickly; the committee closed the hearing after testimony and questions.
