LD1206

This bill increases the percentage of business equipment tax exemption that municipalities in Maine can recover from the state.

This bill amends the business equipment tax exemption provisions in Maine. It increases the percentage that municipalities can recover from the state for lost property tax revenue due to the exemption. Starting from April 1, 2026, the recoverable percentage will increase annually until it reaches 80% for property tax years beginning on or after April 1, 2030.