What is the status of LD1504?

Failed as of May 27, 2025. Latest action: Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD) (May 27, 2025).

Who sponsored LD1504?

Wayne Farrin (D, 47), with 7 co-sponsors.

Where is the official record for LD1504?

On the Maine Legislature website: https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1504&snum=132

Maine legislation · 132nd Legislature

Maine LD1504: An Act to Support Small Businesses by Providing a Refundable Tax Credit to Certain Businesses to Offset Credit and Debit Card Transaction Fees

Q: What is LD1504?

LD1504 is a bill in the Maine Legislature (132nd Legislature): An Act to Support Small Businesses by Providing a Refundable Tax Credit to Certain Businesses to Offset Credit and Debit Card Transaction Fees.

Q: What does LD1504 do?

In its own words: An Act to Support Small Businesses by Providing a Refundable Tax Credit to Certain Businesses to Offset Credit and Debit Card Transaction Fees Reference to the Committee on Taxation suggested and ordered printed. ROBERT B. HUNT Clerk Presented by Representative FARRIN of Jefferson. Cosponsored by Senator RENY of Lincoln and Representatives: CROCKETT of Portland, FLYNN of Albion, ROLLINS of Augusta, SIMMONS of Waldoboro, STOVER of Boothbay, TERRY of Gorham. Printed on recycled paper.

Status: Failed, May 27, 2025

What the bill says

An Act to Support Small Businesses by Providing a Refundable Tax Credit to Certain Businesses to Offset Credit and Debit Card Transaction Fees Reference to the Committee on Taxation suggested and ordered printed. ROBERT B. HUNT Clerk Presented by Representative FARRIN of Jefferson. Cosponsored by Senator RENY of Lincoln and Representatives: CROCKETT of Portland, FLYNN of Albion, ROLLINS of Augusta, SIMMONS of Waldoboro, STOVER of Boothbay, TERRY of Gorham. Printed on recycled paper.

From the engrossed text:

An Act to Support Small Businesses by Providing a Refundable Tax Credit to Certain Businesses to Offset Credit and Debit Card Transaction Fees Reference to the Committee on Taxation suggested and ordered printed. ROBERT B. HUNT Clerk Presented by Representative FARRIN of Jefferson. Cosponsored by Senator RENY of Lincoln and Representatives: CROCKETT of Portland, FLYNN of Albion, ROLLINS of Augusta, SIMMONS of Waldoboro, STOVER of Boothbay, TERRY of Gorham. Printed on recycled paper Be it enacted by the People of the State of Maine as follows: Sec. 1. 36 MRSA §5219-CCC is enacted to read: §5219-CCC. Credit card and debit card transaction fee tax credit 1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. "Card issuer" means a person that issues a credit card or debit card or the agent of such a person with respect to such a card. B. "Credit card" has the same meaning as in Title 9-A, section 1-301, subsection 16. C. "Debit card" has the same meaning as in Title 10, section 1271, subsection 3. D. "Eligible business" means a business located in this State that has gross sales of less than $2,400,000 annually. E. "Fee" means the transaction fee imposed by a card issuer on a business for the use of that card …

Read the full official text

Maine LD1504: An Act to Support Small Businesses by Providing a Refundable Tax Credit to Certain Businesses to Offset Credit and Debit Card Transaction Fees

What the bill says

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