BETR, BETE task force nearing Dec. 1 deadline
A legislative task force to study the tax implications of transitioning the state’s business equipment tax reimbursement to the locally administered business equipment tax exemption program is nearing the deadline to provide a recommendation to lawmakers.
The Ellsworth American reported the task force will convene Wednesday for what could be the group’s final meeting before submitting its recommendations.
The task force was formed at the urging of Gov. Paul LePage, who proposed with the last two-year budget that the state find $11.7 million in savings by eliminating the BETR program, which reimburses 100% of business equipment expenses, and using BETE only. Rather than direct reimbursements, the BETE program provides a property tax exemption for businesses that install new equipment and machinery. LePage planned for the state to reimburse municipalities for just 60% of the BETE tax break.
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