Chapter 372
H.P. 406 - L.D. 528
An Act To Make BETR Better
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §6651, sub-§1, as amended by PL 2005, c. 623, §2, is further amended to read:
1. Eligible property.
"Eligible property" means qualified business property first placed in service in the State, or constituting construction in progress commenced in the State, after April 1, 1995, but does not include property that qualifies for exemption pursuant to chapter 105, subchapter 4-C. "Eligible property" includes, without limitation, repair parts, replacement parts, additions, accessions and accessories to other qualified business property placed in service on or before April 1, 1995 if the part, addition, accession or accessory is first placed in service, or constitutes construction in progress, in the State after April 1, 1995, unless such property qualifies for exemption pursuant to chapter 105, subchapter 4-C. "Eligible property" includes used qualified business property if the qualified business property was first placed in service in the State, or constituted construction in progress commenced in the State, after April 1, 1995 and does not qualify for exemption under chapter 105, subchapter 4-C. "Eligible property" also includes inventory parts.
Effective September 20, 2007