An Act To Limit Registration Fees on Water Well Drilling Equipment To Encourage Purchasing of Modern Equipment for Rural Well Construction

Sec. 1. 36 MRSA §611,  as amended by PL 2017, c. 367, §3, is further amended by adding after the 3rd paragraph a new paragraph to read:

Notwithstanding any other provision of this subchapter, the annual tax required under this subchapter for machinery and equipment used for water well drilling for a person licensed under Title 32, chapter 69-C is $2,500.

Sec. 2. Application. This Act applies to tax years beginning January 1, 2020 and thereafter.

summary

This bill sets the annual personal property tax on equipment for water well drilling owned by a licensed well driller at $2,500 for tax years beginning January 1, 2020 and thereafter.