| Be it enacted by the People of the State of Maine as follows: |
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| | Sec. 1. 36 MRSA §1811, as amended by PL 1995, c. 281, §§18 and 19 | and affected by §42, is further amended to read: |
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| | A tax is imposed on the value of all tangible personal | property and taxable services sold at retail in this State. The | rate of tax is 7% 5% on the value of liquor sold in licensed | establishments as defined in Title 28-A, section 2, subsection | 15, in accordance with Title 28-A, chapter 43; 7% 5% on the value | of rental of living quarters in any hotel, rooming house, tourist | or trailer camp; 10% 5% on the value of rental for a period of | less than one year of an automobile; 7% 5% on the value of | prepared food sold in establishments that are licensed for on- | premises consumption of liquor pursuant to Title 28-A, chapter | 43; and 6% 5% on the value of all other tangible personal | property and taxable services. Value is measured by the sale | price, except as otherwise provided. |
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| | The tax imposed upon the sale and distribution of gas, water | or electricity, or telephone or telegraph service, by any public | utility, the rates for which sale and distribution are | established by the Public Utilities Commission, shall must be | added to the rates so established. No A tax shall may not be | imposed upon the sale or use of electrical energy, or water | stored for the purpose of generating electricity, when the sale | is to or by a wholly owned subsidiary by or to its parent | corporation, except for electrical energy or water purchased for | resale to or by such wholly owned subsidiary. |
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| | On or before May 15th of each year, the State Budget Officer | shall present a final estimate of General Fund revenues for the | current fiscal year, taking into consideration an estimate of the | Revenue Forecasting Committee. If estimated General Fund | revenues for the current fiscal year exceed those of the prior | fiscal year by 8% or more, on a base-to-base comparison excluding | one-time revenue gains and losses, revenue in an amount | equivalent to that generated by 0.5% of the tax on the sale of | personal property and taxable services taxed at a rate of 6% on | the effective date of this paragraph must be transferred by the | State Controller to the Maine Rainy Day Fund as described in this | section. |
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| | Beginning in the year 2000, if estimated General Fund revenues | for the current fiscal year exceed those of the prior fiscal year | by 8% or more, on a base-to-base comparison excluding one-time | revenue gains and losses, revenue in an amount equivalent to that | generated by 0.5% of the tax on the sale of |
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