Sec. 1. 36 MRSA §501, sub-§9-A is enacted to read:

9-A.__State-sponsored postsecondary educational institution.__ "State-sponsored postsecondary educational institution" means the University of Maine System, the Maine Community College System and the Maine Maritime Academy.

Sec. 2. 36 MRSA §652, sub-§1, śM is enacted to read:

M.__Real and personal property leased by and occupied or used solely for its own purposes by a state-sponsored postsecondary educational institution.

Sec. 3. 36 MRSA §1752, sub-§14-F is enacted to read:

14-F.__State-sponsored postsecondary educational institution.__ "State-sponsored postsecondary educational institution" means the University of Maine System, the Maine Community College System and the Maine Maritime Academy.

Sec. 4. 36 MRSA §1760, sub-§88 is enacted to read:

88.__State-sponsored postsecondary educational institution lease arrangements.__Sales to entities that lease real or personal property to a state-sponsored postsecondary educational institution to the extent the items are used entirely within the leased property that is occupied by or used solely for the purposes of the state-sponsored postsecondary educational institution.__This exemption does not apply where title is held or taken as security for any financing arrangement.

SUMMARY

This bill exempts real and personal property leased by a state-sponsored postsecondary educational institution from property taxation. It also exempts from taxation certain sales to a lessor of a state-sponsored postsecondary educational institution.