| | | production of tangible personal property pursuant to a | | contract with the United States Government or any agency | thereof, or, in the case of sales occurring on or after | March 1, 2003 but prior to July 1, 2003, in the generation | of digital television broadcast signals or, in the case of | sales occurring after June 30, 2003, in the generation of | radio and television broadcast signals | | applies even if the purchaser sells the machinery or | | equipment and leases it back in a sale and leaseback | | transaction. This exemption also applies whether the | | purchaser agrees before or after the purchase of the | | machinery or equipment to enter into the sale and | | leaseback transaction and whether the purchaser's use of | | the machinery or equipment in production commences before | or after the sale and leaseback transaction occurs. As | used in this paragraph, "digital television broadcast | signal" means an over-the-air signal transmitted by a | television station licensed under 47 Code of Federal | Regulations, Part 73 |
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| | | Sec. AA-1. 36 MRSA §112, sub-§12, as enacted by PL 2001, c. 559, Pt. | | GG, §2 and affected by §26, is repealed. |
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| | | Sec. AA-2. 36 MRSA §5122, sub-§1, ¶N, as amended by PL 2001, c. 700, | | §3, is further amended to read: |
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| | | N. For any taxable year beginning in 2002, 2003 or 2004, | | an amount equal to the net increase in depreciation | | attributable to a 30% bonus depreciation deduction claimed | | by the taxpayer pursuant to Section 101 of the federal Job | | Creation and Worker Assistance Act of 2002, Public Law | | 107-147 with respect to property placed in service during | the taxable year, multiplied by the factor obtained by | subtracting from the number 1.0 the conformity factor | calculated by the State Tax Assessor under section 112, | subsection 12 |
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| | | Sec. AA-3. 36 MRSA §5122, sub-§2, ¶Q, as enacted by PL 2001, c. 559, | | Pt. GG, §12 and affected by §26, is amended to read: |
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| | Q. For tax years beginning in 2003,or | | 2006, an amount equal to 1/3 of any amount added back to | | federal adjusted gross income by the taxpayer for the 2002 | | tax year pursuant to subsection 1, paragraph N, except | | with respect to 3-year property, in which case this | | paragraph does not | | apply to 2005 or 2006 tax years and the amount to be | | subtracted pursuant to this paragraph in the 2004 tax year | is an amount equal to 2/3 of | | pursuant |
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