| Be it enacted by the People of the State of Maine as follows: |
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| | This bill is a concept draft pursuant to Joint Rule 208. It | seeks to amend the laws governing taxation in the following ways: |
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| | 1. Eliminate the personal property tax and reimburse | municipalities for 100% of the resulting loss of tax revenue | through a revenue-sharing program separate from the state- | municipal revenue sharing provided for in the Maine Revised | Statutes, Title 30-A, section 5681; |
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| | 2. Eliminate the sales tax exemption for machinery and | equipment used in production; |
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| | 3. Eliminate the program established in the Maine Revised | Statutes, Title 36, chapter 915 that provides for reimbursement | for taxes paid on certain business property; and |
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| | 4. Impose a 1% tax on ingredients and components used in | production. |
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