Sec. 1. 36 MRSA §6652, sub-§1-A, ¶D, as enacted by PL 1997, c. 24, Pt. C, §14, is repealed.

Sec. 2. 36 MRSA §6652, sub-§3 is enacted to read:

3.__Limitation on reimbursement for property first placed in service after April 1, 1999.__For eligible property first placed in service after April 1, 1999, the amount of reimbursement under this chapter is limited to 75% of the taxes paid.

Sec. 3. 36 MRSA §6656, as enacted by PL 1995, c. 368, Pt. FFF, §2, is amended to read:

§6656. Payment of claims

Upon receipt of a timely and properly completed claim for reimbursement, the State Tax Assessor shall certify that the claimant is eligible for reimbursement and shall pay the amount claimed from the General Fund within 180 days after the claim is filed. The State Tax Assessor may not pay claims in excess of amounts appropriated for that purpose.__If eligible claims exceed appropriations, the State Tax Assessor shall place eligible claims on a waiting list with the priority for payment based on the date of approval if additional funds are appropriated for the payment of eligible claims.

SUMMARY

This bill limits reimbursement for personal property taxes on eligible business equipment to 75% of taxes paid for property first placed in service after April 1, 1999. The bill also requires the State Tax Assessor to establish a waiting list for payment of eligible claims if eligible claims exceed appropriations and the bill restores eligibility for cable television companies.