[§237-13.3] Application of sections 237-4(a)(8), 237-4(a)(10), and 237-13(6)(A). (a) Sections 237-4(a)(8), 237-4(a)(10), and 237-13(6)(A) to the contrary notwithstanding, instead of the tax levied under sections 237-4 and 237-13(6)(A) at one-half of one per cent, during the period January 1, 2000, to December 31, 2005, the tax shall be as follows:

(1) In calendar year 2000, 3.5 per cent;

(2) In calendar year 2001, 3.0 per cent;

(3) In calendar year 2002, 2.5 per cent;

(4) In calendar year 2003, 2.0 per cent;

(5) In calendar year 2004, 1.5 per cent;

(6) In calendar year 2005, 1.0 per cent; and

(7) In calendar year 2006 and thereafter, 0.5 per cent.

(b) The department shall have the authority to implement the tax rate changes in subsection (a) by prescribing tax forms and instructions that require tax reporting and payment by deduction, allocation, or any other method to determine tax liability with due regard to the tax rate changes. [L 1999, c 71, §2]