| | | Sec. AA-5. Preamnesty collections; legislative intent. The Legislature finds | | that it is in the best interest of the State and public | | welfare of the people of Maine to ensure that there is no | | delay in the payment of delinquent state tax liabilities as a | | result of the 2003 Maine Tax Amnesty Program. The Legislature | | further finds that many taxpayers are likely to defer payment | | of delinquent tax liabilities in order to take advantage of | | lower interest and penalty amounts available under the 2003 | | Maine Tax Amnesty Program. Therefore, to ensure the timely | | collection of state tax revenue prior to the effective date of | | the 2003 Maine Tax Amnesty Program, the Legislature encourages | | the State Tax Assessor to utilize the full extent of the State | | Tax Assessor's authority under the Maine Revised Statutes, | | Title 36, including the abatement of interest and penalty | | consistent with the provisions of the 2003 Maine Tax Amnesty | | Program. |
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| | | Sec. AA-6. Application. Those sections of this Part that enact the | | Maine Revised Statutes, Title 36, section 5250-B, amend | | section 5251 and repeal and replace section 5253 apply to | | pass-through entity income of nonresidents sourced to Maine | | and earned on or after January 1, 2003. |
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| | | Sec. BB-1. 36 MRSA §683, sub-§1, as enacted by PL 1997, c. 643, Pt. | | HHH, §3 and affected by §10, is repealed and the following | | enacted in its place: |
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| | | 1.__Exemption amount.__Except for assessments for special | | benefits, the following values of the homestead of a permanent | | resident of this State who has owned a homestead in this State | | for the preceding 12 months are exempt from taxation: |
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| | | A.__The estate up to the just value of $7,000 for | | homesteads with a just value of less than $125,000; |
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| | | B.__The estate up to the just value of $5,000 for | | homesteads with a just value of at least $125,000 but less | | than $250,000; and |
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| | | C.__The estate up to the just value of $2,500 for | | homesteads with a just value of $250,000 or greater. |
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| | | Sec. BB-2. 36 MRSA §683, sub-§1-A is enacted to read: |
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| | | 1-A.__Local assessed value of the exemption.__In determining | | the local assessed value of the exemption for purposes of | | subsection 1, the assessor shall multiply the amount of the | | exemption by the ratio of current just value upon which the | | assessment is based as furnished in the assessor's annual | | return |
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