LD 1395
pg. 30
Page 29 of 30 An Act for Comprehensive Reform of Maine's Tax Structure LD 1395 Title Page
Download Bill Text
LR 824
Item 1

 
Taxes on distilled spirits are unaffected by this Part. Taxes
on the alcohol in distilled spirits are higher than those on the
alcohol in beer and wine and would remain so despite the
increases for beer and wine proposed in this Part.

 
Part G creates a property tax exemption for 70% of the just
value of certain business property placed in service in the
State after April 1, 2003 and eliminates eligibility of that
property for tax reimbursement under the business equipment
tax reimbursement program. The State will reimburse
municipalities for 50% of the revenue lost as a result of the
exemption.

 
Part H increases the ceiling on the Maine Rainy Day Fund
from 6% to 10% of total General Fund Revenues.

 
Part I broadens the sales tax base by repealing certain
sales tax exemptions and by expanding the number of taxable
consumer services.

 
Part J allows a municipality to impose service charges on
institutions and organizations that are exempt from paying
property taxes.


Page 29 of 30 Top of Page LD 1395 Title Page