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ME LD1857
Bill
AI Summary
- Removes the requirement that veterans must have served during a federally recognized war period to qualify for property tax exemptions, effective April 1, 2026
- Creates a tiered property tax exemption for veterans with VA service-connected disability ratings: $50,000 exemption for 100% disability, $40,000 for 90%, $30,000 for 80%, $20,000 for 70%, and $10,000 for 60% disability
- Sets base property tax exemption at $5,000 for all veterans, increasing to $6,000 for veterans aged 62 or older
- Extends veteran property tax exemption eligibility to unremarried surviving spouses, minor children, and parents of deceased veterans
- Eliminates several corporate tax expenditures including credits for professional baseball facilities, major business headquarters expansion, windjammer parts sales tax refunds, and the 1.15% discount on cigarette stamps for distributors; reduces Maine Seed Capital Tax Credit Program authorization from $15 million to $10 million for calendar year 2026
Legislative Description
An Act to Expand Property Tax Relief for Veterans and Their Survivors and to Modify Certain Corporate Tax Expenditures
Property Tax
Last Action
Placed in the Legislative Files. (DEAD)
6/11/2025
Committee Referrals
Taxation5/1/2025
Full Bill Text
No bill text available