Sec. 14. 36 MRSA §1485-A is enacted to read:

§1485-A. Excise tax reimbursement allowed in certain cases

1. Reimbursement. A person engaged in the business of renting automobiles for a period of less than one year is entitled to reimbursement of excise tax paid as provided by this section. The State Tax Assessor shall determine the reimbursement to be paid to a person filing a return pursuant to subsection 2. The reimbursement is determined by computing the total excise tax reimbursement entitlement during the most recently completed period from July 1st to June 30th for which the person has filed a return pursuant to subsection 2. An excise tax reimbursement entitlement accrues for each vehicle excise tax paid in the completed period for which the associated Maine registration was surrendered prior to the expiration of the associated 12-month excise tax period, unless the excise tax was credited to another registration, in which case the 12-month period continues to run in association with the replacement registration. The amount of the reimbursement is equal to the amount of the excise tax paid in order to register the original vehicle multiplied by a fraction, the numerator of which is the number of complete months short of 12 months during which the registration was surrendered and the denominator of which is 12.

2. Return required. A person entitled to a reimbursement pursuant to subsection 1 must file a return with the State Tax Assessor on or before September 1st annually. The return must include the information required by the State Tax Assessor to determine the person's excise tax reimbursement entitlement. For good cause, the State Tax Assessor may extend the September 1st filing deadline for a period not to exceed one year.

3. Treasurer of State; notification. Upon the determination of the reimbursement amount to be paid to a person, the State Tax Assessor shall inform the Treasurer of State of the determination and the Treasurer of State shall make the reimbursement. Unless the reimbursement is paid before November 1st of the year in which the return required in subsection 2 is filed or within 60 days of the filing of that report, whichever is later, interest at the rate provided in section 186 must be paid for the period between the expiration of the deadline and the time of payment.

Sec. 15. 36 MRSA §1752, as amended by PL 2005, c. 12, Pt. O, §1 and Pt. TTT, §1 and affected by Pt. O, §5 and Pt. TTT, §4