Sec. 1. 36 MRSA §5206, sub-§1, as amended by PL 1997, c. 404, §2 and affected by §10, is further amended to read:

1. Franchise tax on Maine net income. One Two percent of the financial institution's Maine net income;

SUMMARY

This bill increases the franchise tax imposed on a financial institution from 1% to 2% of the financial institution's net income.