An Act to Support Maine's Agricultural Economy by Increasing Revenue from the Corporate Income Tax

This bill increases the corporate income tax by 1.07% on income over $3,500,000, making the top rate 10%. The new revenue will fund various agricultural programs, including dairy stabilization, business incentives for agricultural businesses, and a new property tax exemption for agricultural buildings constructed or renovated after January 1, 2026. Municipalities will be reimbursed by the state for this property tax exemption.

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