1. Generally. A person against whom taxes have been assessed pursuant to Part 2, except for chapters 111 and 112, with respect to eligible property and who has paid those taxes is entitled to reimbursement of those taxes from the State as provided in this chapter. For purposes of this chapter, a tax applied as a credit against a tax assessed pursuant to chapter 111 or 112 is a tax assessed pursuant to chapter 111 or 112. Eligible property is subject to reimbursement pursuant to this chapter for up to 12 property tax years, but the 12 years must be reduced by one year for each year during which a taxpayer included the same property in its investment credit base under section 5219-D, 5219-E or 5219-M and claimed the credit provided in one or more of those sections on its income tax return, and reimbursement may not be made for taxes assessed in a year in which one or more of those credits is taken. A successor in interest of a person against whom taxes have been assessed with respect to eligible property is entitled to reimbursement pursuant to this section, whether the tax was paid by the person assessed or by the successor, as long as a transfer of the property in question to the successor has occurred and the successor is the owner of the property as of August 1st, of the year in which a claim for reimbursement may be filed pursuant to section 6654.__For purposes of this paragraph, "successor in interest" includes the initial successor and any subsequent successor.__When an eligible successor in interest exists, the successor is the only person to whom reimbursement under this chapter may be made with respect to the transferred property.

Sec. 58. P&SL 1999, c. 53 is repealed.

Sec. 59. Application. That section of this Act that repeals Private and Special Law 1999, chapter 53 applies to persons applying for participation in the elderly low-cost drug program after December 31, 2002.

Sec. 60. Effective date. That section of this Act that amends the Maine Revised Statutes, Title 36, section 191, subsection 2, paragraph R, as amended by Public Law 2001, chapter 714, Part CC, section 2, takes effect when the provisions in Public Law 2001, chapter 714, Part CC, section 8 are met.

SUMMARY

This bill makes the following changes to the laws governing taxation.

The bill establishes specific statutory authority and procedures for the State Tax Assessor to accept protective claims for refund.