Maine Revised Statutes Title 36 Sec. 199-B – Report
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1. Report. The bureau shall submit a report regarding tax expenditures to the committee by February 15th of each odd-numbered year. The report must contain:
A. A summary of each tax expenditure in the laws administered by the bureau; [PL 2001, c. 652, §7 (NEW).]
B. A description of the purpose and background of the tax expenditure and the groups likely to benefit from the tax expenditure; [PL 2001, c. 652, §7 (NEW).]
C. An estimate of the cost of the tax expenditure for the current biennium; [PL 2001, c. 652, §7 (NEW).]
D. Any issues regarding tax expenditures that need to be considered by the Legislature; [PL 2017, c. 211, Pt. E, §4 (AMD).]
E. Any recommendation regarding the amendment, repeal or replacement of the tax expenditure; and [PL 2017, c. 211, Pt. E, §4 (AMD).]
F. The total amount of reimbursement paid to each person claiming a reimbursement for taxes paid on certain business property under chapter 915. [PL 2017, c. 211, Pt. E, §4 (NEW).]
[PL 2017, c. 211, Pt. E, §4 (AMD).]
SECTION HISTORY
PL 2001, c. 652, §7 (NEW). PL 2017, c. 211, Pt. E, §4 (AMD).
Terms Used In Maine Revised Statutes Title 36 Sec. 199-B
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Bureau: means the Bureau of Revenue Services, which may be referred to as "Maine Revenue Services. See Maine Revised Statutes Title 36 Sec. 111
- Committee: means the joint standing committee of the Legislature having jurisdiction over taxation matters. See Maine Revised Statutes Title 36 Sec. 199-A
- Person: means an individual, firm, partnership, association, society, club, corporation, financial institution, estate, trust, business trust, receiver, assignee or any other group or combination acting as a unit, the State or Federal Government or any political subdivision or agency of either government. See Maine Revised Statutes Title 36 Sec. 111
- Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
- Tax expenditure: means any provision of state law that results in the reduction of tax revenue due to special exclusions, exemptions, deductions, credits, preferential rates or deferral of tax liability. See Maine Revised Statutes Title 36 Sec. 199-A
- Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72