This bill requires a megayacht registered in an overseas tax haven to be charged a fee of $10 per foot per day that the megayacht is secured to a slip in a municipal harbor. The first 100 feet of overall length of the megayacht are excluded from the calculation of the total fee. The fee is collected by the municipality that has jurisdiction over the waters in which the megayacht is secured, and that municipality retains 10% of the fee collected. The bill also establishes the Megayacht Fund, into which the remaining 90% of the fee is deposited. The Treasurer of State disburses 50% of the Megayacht Fund to the Maine State
42 Housing Authority for use in programs providing emergency rental assistance and
43 homelessness diversion programs, 25% to the Department of Marine Resources and 25%
44 to the Department of Transportation for use in public transit programs.