Maine 2023-2024 Regular Session

Maine Senate Bill LD2279

Introduced
3/25/24  

Caption

An Act to Promote Equity in the Forest Products Industry by Allowing Commercial Wood Haulers to Be Eligible for Certain Sales Tax Exemptions and Refunds

Impact

If enacted, LD2279 would amend current state sales tax law to include provisions specifically benefiting commercial wood haulers. By granting these exemptions, the bill is expected to contribute positively to the financial sustainability of businesses involved in wood harvesting and related processes. This change could lead to increased competitiveness in the forest product market, bolstering an industry critical to Maine's economy and natural resource management.

Summary

LD2279, titled 'An Act to Promote Equity in the Forest Products Industry', aims to allow commercial wood haulers in Maine to qualify for specific sales tax exemptions and refunds. The bill focuses on facilitating the commercial wood harvesting sector by ensuring that those engaged in the industry can claim sales tax refunds on electricity, fuel, and certain machinery purchases. This legislative move is intended to support economic equity within the forest products industry by reducing operational costs for eligible businesses.

Sentiment

Overall, the sentiment surrounding LD2279 appears to be supportive among those in the forest products industry and economic development advocates. Proponents argue that the bill invites fairness and equity into an important sector that has faced economic pressures. However, it may raise questions among opponents about the implications for state revenue and fiscal responsibility, as tax exemptions can reduce general fund income.

Contention

Notable points of contention surrounding LD2279 may include concerns over potential negative impacts on state revenues resulting from the tax exemptions. Detractors could argue that while promoting equity for one sector, the law might inadvertently disadvantage other industries or contribute to budgetary constraints. Discussions may also explore how the bill aligns with broader objectives of sustainability and resource management within the state's forestry practices.

Companion Bills

No companion bills found.

Previously Filed As

ME LD1313

An Act to Promote Equity in the Forest Products Industry by Allowing Commercial Wood Haulers to Be Eligible for Certain Sales Tax Exemptions and Refunds

ME LD1617

An Act to Lower the Exclusion Amount for the Estate Tax and Create an Exclusion for Family Farms and Aquaculture, Fishing and Wood Harvesting Businesses

ME LD1338

An Act to Amend the Maine Exclusion Amount in the Estate Tax

ME LD192

An Act to Exempt from State Sales Tax Utility Vehicles Purchased for Use in Commercial Fishing, Agricultural Production, Aquacultural Production and Wood Harvesting

ME HB605

Taxation; to exempt the sale of certain items used in agricultural production from state sales and use tax

ME H5784

Forestry And Forest Product Operations

ME LD2251

An Act to Amend the Mining Excise Tax Laws

ME LD936

An Act to Amend the Laws Regarding the Mining Excise Tax

ME H0624

An act relating to providing financial assistance to the forest economy

ME HB1400

Retail Sales and Use Tax; commercial and industrial exemptions, extends sunset date.

Similar Bills

ME LD1617

An Act to Lower the Exclusion Amount for the Estate Tax and Create an Exclusion for Family Farms and Aquaculture, Fishing and Wood Harvesting Businesses

ME LD2251

An Act to Amend the Mining Excise Tax Laws

ME LD1338

An Act to Amend the Maine Exclusion Amount in the Estate Tax

ME LD936

An Act to Amend the Laws Regarding the Mining Excise Tax

KS HB2406

Providing tax exemption eligibility for commercial and industrial machinery and equipment that is currently ineligible for tax exemption due to such equipment being acquired or transported into this state on or before June 30, 2006.

RI S2148

Property Subject To Taxation

ME LD223

An Act to Amend the Mining Excise Tax Laws

KS HB2083

Providing a property tax exemption for new energy storage systems and excluding new energy storage systems from the commercial and industrial machinery and equipment exemption.