Part A of the bill changes the property tax benefits for military veterans beginning with property tax years beginning on or after April 1, 2026. Part A provides that veterans are no longer required to have served during a federally recognized war period and receive an
43 exemption of up to $5,000 of the just value of the property. It provides that veterans who
44 are 62 years of age or older receive an exemption of up to $6,000 of the just value of the
45 property. It also provides that veterans receive an exemption of between $10,000 and
46 $50,000 based on their United States Department of Veterans Affairs service-connected
47 disability rating. Part A provides that veterans' survivors remain eligible for the benefit
48 that the veteran would be eligible for if the veteran was living. Part B eliminates tax credits for investment in qualified professional baseball facilities and for major business headquarters expansion; eliminates the discounted rate on cigarette stamps for licensed distributors; eliminates the refund on sales tax on purchases of parts and supplies for windjammers; and reduces the value of the aggregate amount of tax credit certificates that the Finance Authority of Maine may authorize under the Maine Seed Capital Tax Credit Program for investments made in calendar year 2026 from $15,000,000 to $10,000,000.

Statutes affected:
Bill Text LD 1857, SP 727: 36.653, 36.841, 10.1100, 36.191, 36.2020, 36.4366, 36.5219