PART Z

Part Z repeals the sales tax exemption for broadcasting equipment that was enacted by Public Law 2001, chapter 709.

PART AA

Part AA disallows, for property placed in service during tax years beginning in 2002, 2003 and 2004, the net increase in depreciation attributable to the 30% bonus depreciation claimed by the taxpayer for federal income tax purposes in accordance with the Jobs Creation and Worker Assistance Act of 2002. Except for 3-year property, the taxpayer is allowed to recapture the disallowance in equal amounts over a 3-year period that begins 2 years after the beginning of the taxable year of the disallowance. For 3-year property, the taxpayer is allowed to recapture the entire disallowance in the first year of the 3-year recovery period. Full recapture of disallowed depreciation is complete by 2009, at which time Maine would again be in full conformity with federal depreciation schedules on affected property.

PART BB

Part BB amends the Business Equipment Tax Reimbursement statute to provide that applications for reimbursement must be filed between August 1st and December 31st, with claims to be paid within 90 days from the end of the filing period.

PART CC

Part CC implements an assessment on residential treatment facilities for individuals with developmental disabilities.

PART DD

Part DD implements an assessment on hospitals.

PART EE

Part EE implements an assessment on nursing facilities.

PART FF

Part FF recognizes the method used to determine the amount of curtailment each school system will receive.