Maine Revised Statutes Title 10 Sec. 9205 – Tax exemption
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1. Bonds or notes. All bonds, notes or other evidences of indebtedness issued under this chapter are issued by a political subdivision or a body corporate and politic of the State and for an essential public and governmental purpose. Those bonds, notes or other evidences of indebtedness, the interest on them and the income from them, including any profit on their sale, and all activities of the corporation and fees, charges, funds, revenue, income and other money of the corporation, whether or not pledged or available to pay or secure the payment of those bonds, notes or other evidences of indebtedness or interest on them, are exempt from all taxation franchise fees or special assessments of whatever kind except for transfer, inheritance and estate taxes.
[PL 1999, c. 513, §6 (NEW).]
Terms Used In Maine Revised Statutes Title 10 Sec. 9205
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the Northern Maine Transmission Corporation established in section 9202, subsection 1. See Maine Revised Statutes Title 10 Sec. 9201
- Personal property: All property that is not real property.
2. Property taxes. All real and personal property acquired by the corporation is subject to taxes to the same extent as real and personal property owned by other electric utilities.
[PL 1999, c. 513, §6 (NEW).]
SECTION HISTORY
PL 1999, c. 513, §6 (NEW).