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for persons so related.__This subsection does not apply to a deed | | to unimproved or undeveloped land in excess of 100 acres; |
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| | | Sec. 5. 36 MRSA §4641-C, sub-§18, as enacted by PL 1995, c. 462, Pt. | | A, §71, is amended to read: |
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| | | 18. Limited liability company deeds. Deeds to a limited | | liability company from a corporation, a general or limited | partnership or another limited liability company, | | grantor or grantee owns an interest in the limited liability | | company in the same proportion as the grantor's or grantee's | | interest in or ownership of the real estate being conveyed, | | except a deed to unimproved or undeveloped land in excess of 100 | | acres. |
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| | | This bill amends exemptions from real estate transfer tax that | | certain businesses currently enjoy. This bill removes from these | | exemptions, and thus makes subject to the transfer tax, transfers | | involving deeds to unimproved or undeveloped land in excess of | | 100 acres. |
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