LD 340
pg. 1
An Act to Reduce the Property Taxes on Old Business Equipment
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LR 1215
Item 1
Be it enacted by the People of the State of Maine as follows:
CONCEPT DRAFT
SUMMARY
This bill is a concept draft pursuant to Joint Rule 208.
This bill proposes to reduce the tax that is levied on
business equipment by basing the tax on the life expectancy of
the equipment. The tax would be phased out over a 5-year period
by decreasing the amount due by 20% of the original amount each
year.
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