An Act Regarding the Commercial Forestry Excise Tax
Sec. 1. 36 MRSA §2722, as amended by PL 1987, c. 362, §1, is repealed and the following enacted in its place:
§ 2722. Annual tax
An excise tax is imposed upon the privilege of using one's land in commercial forestry enterprise in this State.
Sec. 2. 36 MRSA §2723-A, as amended by PL 1997, c. 24, Pt. C, §6 and PL 2011, c. 657, Pt. W, §6, is repealed.
Sec. 3. 36 MRSA §2724, as amended by PL 1993, c. 452, §15, is repealed.
Currently the State Tax Assessor is required annually to calculate and determine the rate of the excise tax imposed upon owners of land used for commercial forestry using information provided by the Commissioner of Agriculture, Conservation and Forestry regarding expenditures and revenue for forest fire protection for the current and preceding year.
This bill simplifies the process and provides greater predictability by establishing an excise tax of 26¢ per acre of commercial forest land. This bill also repeals the current formula and a definition that is no longer necessary due to the repeal of the formula.