Business Equipment Tax Reimbursement (BETR)
One of Maine's most successful economic development programs is the Business Equipment Tax Reimbursement (BETR) Program. Adopted in 1995, the BETR program encourages businesses to invest in Maine by allowing them to recoup local property taxes paid on eligible business equipment and property. Qualified Maine businesses can be fully reimbursed for up to 12 years.

LD 2056, An Act to Replace Municipal Revenues Subject to Business Equipment Property Tax Exemption, which was signed into law by Governor Baldacci on May 4, 2006, eliminates the personal property tax on eligible business equipment that is first subject to assessment on or after April 1, 2008. Any purchases made during the prior tax year – April 1, 2007 through March 31, 2008 – fall within the first covered period under the new law.