§2851. Preamble It is the Legislature’s belief that mining for metallic minerals is an acceptable and necessary activity in the State. Mining results in economic benefits to the locality where it occurs, as well as to the entire State and the Nation. Those who conduct mining do so by their own initiative and by investing […]
§2852. Findings The Legislature makes the following findings. [PL 1981, c. 711, §10 (NEW).] 1. Mineral resources fundamental. Mineral resources are fundamental to modern civilization. [PL 1981, c. 711, §10 (NEW).] 2. Mineral resources as economic wealth. Mineral resources have historically been a primary source of economic wealth, are valuable and, once removed, […]
§2853. Purpose It is the policy of the State to encourage the sound and orderly development of Maine’s mineral resources. The object of this policy is to assure that the actions associated with development of these resources will: [PL 1981, c. 711, §10 (NEW).] 1. Expansion and diversification of economy. Encourage expansion and diversification […]
§2854. Excise tax in lieu of property taxes 1. Annual excise tax. A mining company shall pay to the State Tax Assessor, for the use set forth in this chapter, an annual excise tax for the privilege of conducting mining within the State. [PL 1981, c. 711, §10 (NEW).] 2. Property tax exemption. The […]
§2855. Definitions For the purposes of this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1981, c. 711, §10 (NEW).] 1. The code. [PL 1987, c. 504, §3 (RP).] 2. Commencement of mining. “Commencement of mining” means when the mine is opened and in the process of development, […]
§2856. Amount of tax The amount of the annual excise tax on a mining company shall be the sum of the excise taxes due on each mine site. The excise tax due on each mine site shall be the greater of the following: [PL 1981, c. 711, §10 (NEW).] 1. Tax on facilities and […]
§2857. Returns 1. Annual return. A mining company shall file, on or before the date the mining company’s state income tax return is due to be filed, an annual return on a form specified by the State Tax Assessor for each tax year. [PL 1981, c. 711, §10 (NEW).] 2. Form and contents. The […]
§2858. Credits, refunds and amendments Credits, refunds and amendments shall be computed and applied separately for each mine site. The following provisions shall apply. [PL 1981, c. 711, §10 (NEW).] 1. Credit for property tax prior to commencement of mining. A credit shall be allowed for property taxes paid by a mining company or […]
§2859. Estimated tax requirements A mining company shall make payments of estimated tax pursuant to section 5228, except that the estimated tax liability is to be based on liability for the mining excise tax rather than the income tax. [PL 1985, c. 691, §§ 27, 48 (RPR).] SECTION HISTORY PL 1981, c. 711, §10 […]
§2860. Enforcement (REPEALED) SECTION HISTORY PL 1981, c. 711, §10 (NEW). PL 1989, c. 502, §A132 (AMD). PL 2011, c. 240, §23 (RP).
§2861. Municipal reimbursement 1. Reimbursement. Excise tax revenues shall be used first to reimburse municipalities for the tax exemptions established by this chapter. [PL 1981, c. 711, §10 (NEW).] 2. Treasurer’s duties. The Treasurer of State shall reimburse each municipality at least 50% and, if revenues from the Mining Excise Tax are available, up […]
§2862. Distribution of remaining revenues Excise tax revenues remaining after municipal reimbursement and payments into the Mining Oversight Fund under section 2861 must be used as follows. [PL 2011, c. 653, §5 (AMD); PL 2011, c. 653, §33 (AFF).] 1. First year. In the first year following the commencement of mining, revenues shall be […]
§2863. Grants for impact assistance The Mining Impact Assistance Fund shall be used to provide impact assistance to municipalities, counties or the Unorganized Territory Education and Services Fund, as follows. [PL 1981, c. 711, §10 (NEW).] 1. Definitions. For the purposes of this section, unless the context otherwise indicates, the following terms have the […]
§2864. Just value (REPEALED) SECTION HISTORY PL 1981, c. 711, §10 (NEW). PL 1987, c. 772, §27 (RP).
§2865. Mine site and valuation determinations 1. Mine site. The State Tax Assessor shall determine the area of a mine site, taking into account all relevant information, including, but not limited to, plans or permits approved under the site location of development law, Title 38, chapter 3, subchapter 1, Article 6. The assessor shall give […]
§2866. Mining Oversight Fund 1. Creation of fund. The Mining Oversight Fund, referred to in this section as “the fund,” is established as a nonlapsing fund administered by the Mining Excise Tax Trust Fund Board of Trustees, referred to in this section as “the board.” The board shall oversee and authorize expenditures from the fund. […]
