CHAPTER 324
H.P. 564 - L.D. 755
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 12 MRSA §7794, sub-§9-A, as enacted by PL 1995, c. 695, §2, is repealed.
Sec. 2. 12 MRSA §7794, sub-§9-B is enacted to read:
9-B. Certificate of number; term. A certificate of number is issued to the owner of a watercraft or a dealer for a specific calendar year and is valid through December 31st of the year for which it was issued.
Sec. 3. 36 MRSA §1503, sub-§8-A, as enacted by PL 1995, c. 695, §4, is repealed.
Sec. 4. 36 MRSA §1503, sub-§8-B is enacted to read:
8-B. Registration period. "Registration period" means from January 1st to December 31st of the year for which the certificate of number is issued pursuant to Title 12, section 7794.
Sec. 5. 36 MRSA §1503, sub-§9, as amended by PL 1985, c. 726, §3, is further amended to read:
9. Taxable year. "Taxable year" for purposes of section 1504, subsection 5, means from January 1st to December 31st for watercraft subject to the excise tax but not required to be registered under Title 12, section 7794. For watercraft required to be registered under Title 12, section 7794, "taxable year" means the 12-month period of registration.
Sec. 6. 36 MRSA §1504, sub-§2, ¶D is enacted to read:
D. The tax payable for a watercraft registered to a new owner after September 1st of any year is 50% of the value due under subsection 1.
Sec. 7. Retroactivity. This Act applies retroactively to January 1, 1997.
Effective September 19, 1997, unless otherwise indicated.
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