An Act To Allow a Motor Vehicle Excise Tax Credit for a Vehicle No Longer in Use
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §1482, sub-§5, as amended by PL 2011, c. 240, §13, is further amended to read:
5. Credits. An owner or lessee who has paid the excise or property tax for a vehicle the ownership or registration of which is transferred, or that is subsequently totally lost by fire, theft or accident or totally junked or abandoned , or for a vehicle the use of which is subsequently totally discontinued, in the same registration year, is entitled to a credit up to the maximum amount of the tax previously paid in that registration year for any one vehicle toward the tax for any number of vehicles, regardless of the number of transfers that may be required of the owner or lessee in that registration year.
A. The credit must be given in any place in which the excise tax is payable.
B. For each transfer made in the same registration year, the owner shall pay $3 to the place in which the excise tax is payable.
C. During the last 4 months of the registration year, the credit may not exceed 1/2 of the maximum amount of the tax previously paid in that registration year for any one vehicle.
D. If the credit available under this subsection exceeds the amount transferred to another vehicle, a municipality may choose, but is not required to refund the excess amount. If a municipality chooses to refund excess amounts it must do so in all instances where there is an excess amount.
E. For the purposes of this subsection, "owner" includes the surviving spouse of the owner.
SUMMARY
This bill provides that the motor vehicle excise tax credit for a vehicle lost by fire, theft or accident or totally junked or abandoned also applies to a vehicle the use of which is totally discontinued.