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PART CCC
Sec. CCC-1. 36 MRSA §111, sub-§1-A, as amended by PL 2005, c. 486, §1 and affected by §2, is further amended to read:
Sec. CCC-2. 36 MRSA §5122, sub-§1, ¶N, as amended by PL 2005, c. 218, §51, is further amended to read:
(1) For taxable years beginning on or after January 1, 2002 but prior to January 1, 2006, a 30% bonus depreciation deduction claimed by the taxpayer pursuant to Section 101 of the federal Job Creation and Worker Assistance Act of 2002, Public Law 107-147 with respect to property placed in service during the taxable year;
(2) For taxable years beginning on or after January 1, 2002 but prior to January 1, 2006, a 50% bonus depreciation deduction claimed by the taxpayer pursuant to Section 201 of the federal Jobs and Growth Tax Relief Reconciliation Act of 2003, Public Law 108-27 with respect to property placed in service during the taxable year; and
(3) For taxable years beginning on or after January 1, 2003 but prior to January 1, 2008, the increase in aggregate cost used under Section 179 of the Code pursuant to Section 202 of the federal Jobs and Growth Tax Relief Reconciliation Act of 2003, Public Law 108-27 or pursuant to Section 201 of the federal American Jobs Creation Act of 2004, Public Law 108-357 arising from amendments to the Code applicable to tax years beginning on or after January 1, 2003;
Sec. CCC-3. 36 MRSA §5200-A, sub-§1, ¶N, as amended by PL 2005, c. 218, §54, is further amended to read:
(1) For taxable years beginning on or after January 1, 2002 but prior to January 1, 2006, a 30% bonus depreciation deduction claimed by the taxpayer pursuant to Section 101 of the federal Job Creation and Worker Assistance Act of 2002, Public Law 107-147 with respect to property placed in service during the taxable year;
(2) For taxable years beginning on or after January 1, 2002 but prior to January 1, 2006, a 50% bonus depreciation deduction claimed by the taxpayer pursuant to Section 201 of the federal Jobs and Growth Tax Relief Reconciliation Act of 2003, Public Law 108-27 with respect to property placed in service during the taxable year; and
(3) For taxable years beginning on or after January 1, 2003 but prior to January 1, 2008, the increase in aggregate cost used under Section 179 of the Code pursuant to Section 202 of the federal Jobs and Growth Tax Relief Reconciliation Act of 2003, Public Law 108-27 or pursuant to Section 201 of the federal American Jobs Creation Act of 2004, Public Law 108-357 arising from amendments to the Code applicable to tax years beginning on or after January 1, 2003;
Sec. CCC-4. Application. This Part applies to tax years beginning on or after January 1, 2006 and to any prior years as specifically provided by the United States Internal Revenue Code.
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