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An Act Regarding the Valuation of Certain Vehicles
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §1482, sub-§4, as amended by PL 1997, c. 200, §1, is further amended to read:
 
4. Maker's list price.   The maker's list price of a vehicle to be used shallmust be obtained from sources approved by the State Tax Assessor, except for a vehicle under subsection 4-A. WhereWhen the maker's list price of a vehicle is not readily obtainable, the State Tax Assessor shall prescribe the maker's list price to be used or the manner in which the maker's list price shall beis determined.
 
A. At the time of payment of the excise tax prior to a new registration for a new passenger vehicle purchased from a motor vehicle dealer licensed in any state for the sale of new passenger vehicles, the owner shall submit the manufacturer's suggested retail price sticker, or a copy of the sticker, to the excise tax collector. In the case of rental and fleet vehicles, other documentation may be provided at the discretion of the municipal excise tax collector.
 
This paragraph applies only to those vehicles for which a manufacturer's suggested retail price sticker is required by the Federal Government.
Sec. 2.  36 MRSA §1482, sub-§4-A  is enacted to read:
 
4-A.  Restored or reconstructed using prepackaged kit.     If a vehicle is restored or reconstructed using a prepackaged kit that may include a frame, front axle or body but does not include a power train or engine, the State Tax Assessor shall use as the maker's list price the price of the prepackaged kit.
 
SUMMARY
This bill directs the State Tax Assessor to value a vehicle that is restored or reconstructed using a prepackaged kit that may include a frame, front axle or body but does not include a power train or engine at the price of the prepackaged kit.