3. No tax liability. In all cases where the Code does not require that a federal estate tax return be filed there is no Maine estate tax liability, the personal representative, surviving joint tenant of real estate or any other person whose real estate might be subject to a lien for taxes pursuant to this chapter may at any time file with the State Tax Assessor assessor in the form prescribed by the State Tax Assessor assessor a statement of the value of the federal gross estate.

Sec. D-7. 36 MRSA §4069-A, sub-§§1 and 2, as enacted by PL 1999, c. 414, §36, are amended to read:

1. Deferred payment arrangement. If the Internal Revenue Service has approved a federal estate tax deferral and installment payment arrangement under Section 6166 of the Code, the executor personal representative may elect a similar deferred payment arrangement under this section for payment of the tax imposed by this chapter, subject to acceptance by the State Tax Assessor. The assessor may approve a deferral and installment arrangement under similar circumstances and on similar terms with respect to an estate of a decedent dying after December 31, 2002 that does not incur a federal estate tax.

2. Time and manner of election; rejection by State Tax Assessor. An election under this section may be made by attaching a payment deferral election in a form prescribed by the assessor to a timely filed Maine estate tax return, in addition to a copy of the federal estate tax return as any documentation required by section 4068, and copies of all documentation required by the Internal Revenue Service and submitted in support of the a federal payment deferral. Documentation submitted to the assessor must clearly indicate the amount of Maine estate tax and interest to be paid in installments; the number of separate installments; and the due date of each installment payment. The assessor may reject the election if the terms of the proposed arrangement are substantially different from the terms of the federal arrangement. Any election not rejected in writing by the assessor within 60 days after the election is made is considered accepted.