LD 1172, Page 2 - 121th Legislature, FIRST REGULAR Session

from the eligible land has been sold or transferred to a mill

located in the United States.__For 2004, the portion of timber

sold or transferred to a mill located in the United States must

be at least 50%.__For 2005, the portion must be at least 60%.__

For 2006, the percentage must be at least 70%.__For 2007 and

succeeding years, the portion must be at least 80%.__If an owner

does not demonstrate the percentage of sales requirement under

this subsection, the owner shall pay a penalty equal to the

difference between the taxes assessed on the property under this

subchapter and the taxes that would have been assessed if the

land was not classified under this subchapter.

SUMMARY

This bill requires that a portion of the timber harvested
from land classified under the Maine Tree Growth Tax Law be
sold or transferred to a mill located in the United States if
the landowner owns at least 100,000 acres. The portion must
be at least 50% in 2004, 60% in 2005, 70% in 2006 and 80% in
2007 and subsequent years. The bill imposes a penalty if
those percentages are not maintained and equal to the amount
of the tax benefit.

Amendments	Public Hearings	Committee Information
Other Documents	Work Sessions	Title & Section

Status for LD 1172	Search Bill Text	Session Information
Bill Directory	Search Bill Status	Legislative Information
Download MS-Word RTF	Search Bill Status	Maine Legislature

Office of Legislative Information 100 State House Station Augusta, ME 04333		voice: (207) 287-1692 fax: (207) 287-1580 tty: (207) 287-6826
Word Viewer for Windows		Disclaimer