1. General. The assessor State Tax Assessor may grant a reasonable extension of time for payment of tax or estimated tax or any installment, or for filing any return, declaration, statement or other document required pursuant to this Part, on terms and conditions the assessor may require. Except as provided in subsection 1-A or for a taxpayer who is outside the United States, an extension for filing any return, declaration, statement or document may not exceed 8 months.

Sec. 50. 36 MRSA §5231, sub-§1-A, as amended by PL 1997, c. 404, §9 and affected by §10, is further amended to read:

1-A. Federal extension. When an individual, estate or trust is granted an extension of time within which to file a federal income tax return for any taxable year, the due date for filing the taxpayer's income tax return with respect to the tax imposed by this Part is automatically extended for an equivalent period. When a taxable corporation or a financial institution subject to the tax imposed by chapter 819 is granted an extension of time within which to file its federal income tax return for any taxable year, the due date for filing the taxpayer's income tax or franchise tax return with respect to the tax imposed by this Part is automatically extended for an equivalent period plus 30 days.

Sec. 51. 36 MRSA §5316, as amended by PL 1971, c. 622, §132, is repealed.

Sec. 52. P&SL 1999, c. 53 is repealed.

Sec. 53. Application. Those sections of this Act that amend the Maine Revised Statutes, Title 36, section 5122, subsection 1, paragraph D and subsection 2, paragraph H and section 5200-A, subsection 1, paragraph B and subsection 2, paragraphs H and J apply to tax years beginning on or after January 1, 2002.

Sec. 54. Application. That section of this Act that repeals Private and Special Law 1999, chapter 53 applies to persons applying for participation in the elderly low-cost drug program after December 31, 2002.

Sec. 55. Effective date. That section of this Act that amends the Maine Revised Statutes, Title 36, section 191, subsection 2, paragraph R, as amended by Public Law 2001, chapter 714, Part CC, section 2, takes effect when the provisions in Public Law 2001, chapter 714, Part CC, section 8 are met.