Sec. 1. 36 MRSA §655, sub-§1, ¶B, as amended by PL 1997, c. 180, §1, is further amended to read:

B. Stock-in-trade, including inventory held for resale by a distributor, wholesaler, retail merchant or service establishment. "Stock-in-trade" also includes an unoccupied manufactured home, as defined in Title 10, section 9002, subsection 7, paragraph A or C, that was not previously occupied at its present location, that is not connected to water or sewer and that is owned and offered for sale by a person licensed for the retail sale of manufactured homes pursuant to Title 10, chapter 951, subchapter II.__"Stock- in-trade" does not include natural gas that is held for resale in a natural gas pipeline in the State;

SUMMARY

This bill removes the property tax exemption for natural gas held for resale in a natural gas pipeline in the State.