1. Meaning of tax.__Whenever a credit provision in chapter 822, other than section 5219-W, allows for a credit "against the tax otherwise due under this Part," "against the tax imposed by this Part" or similar language, "tax" means all taxes under this Part, except the minimum tax imposed by section 5203-C and the taxes imposed by chapter 827.

2. Meaning of tax liability.__Whenever a credit provided for in chapter 822 is limited by reference to tax liability, "tax liability" means the tax liability for all taxes under this Part, except the minimum tax imposed by section 5203-C and the taxes imposed by chapter 827.

Sec. F-2. Application. That section of this Part that repeals and replaces the Maine Revised Statutes, Title 36, section 5219-H applies to tax years beginning on or after January 1, 2004.

PART G

Sec. G-1. 36 MRSA §5219-M, sub-§1, ¶E is enacted to read:

E.__"Qualified lessor" means a person that leases or subleases eligible equipment to a person that is engaged primarily in high technology activity, but only when:

(1) The eligible equipment is used primarily in the high technology activity engaged in by the lessee or sublessee;

(2) The lessor derived aggregate total lease payments from personal property of at least 3 times the total payments received from eligible equipment during the taxable year; and

(3) The lease or sublease upon which the credit is based qualifies as a lease of property for federal income tax purposes under the guidelines contained in Revenue Procedure 2001-28 of the United States Department of the Treasury, Internal Revenue Service.

Sec. G-2. 36 MRSA §5219-M, sub-§1-A, ¶B, as amended by PL 2001, c. 358, Pt. M, §3 and affected by §6, is further amended to read:

B. When a qualified lessor or sublessor provides the assessor with satisfactory evidence that the lessee or