An Act To Support Maine'S Agricultural Economy By Increasing Revenue From The Corporate Income Tax And Providing Property Tax Exemptions
Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES. (DEAD)
Summary
The bill creates an extra 1.07% corporate income tax on earnings above $3.5 million, raising the top rate to 10% for those corporations. Revenue is earmarked for dairy stabilization, business‑incentive credits, a $1 million fund for a property‑tax exemption on agricultural buildings, and several other ag‑focused funds. It also defines a ten‑year property‑tax exemption for farm structures built after Jan. 1 2026, with municipalities reimbursed by the state.
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