Maine LD1699: An Act to Create a Refundable Tax Credit for Agricultural Enterprises

What the bill says

An Act to Create a Refundable Tax Credit for Agricultural Enterprises Reference to the Committee on Taxation suggested and ordered printed. ROBERT B. HUNT Clerk Presented by Representative PLUECKER of Warren. Cosponsored by Senator TALBOT ROSS of Cumberland and Representatives: COOPER of Windham, CRAY of Palmyra, DILL of Old Town, FROST of Belgrade, GUERRETTE of Caribou, HEPLER of Woolwich, JACKSON of Oxford, Senator: BLACK of Franklin. Printed on recycled paper.

From the introduced text:

An Act to Create a Refundable Tax Credit for Agricultural Enterprises Reference to the Committee on Taxation suggested and ordered printed. ROBERT B. HUNT Clerk Presented by Representative PLUECKER of Warren. Cosponsored by Senator TALBOT ROSS of Cumberland and Representatives: COOPER of Windham, CRAY of Palmyra, DILL of Old Town, FROST of Belgrade, GUERRETTE of Caribou, HEPLER of Woolwich, JACKSON of Oxford, Senator: BLACK of Franklin. Printed on recycled paper Be it enacted by the People of the State of Maine as follows: Sec. 1. 10 MRSA §1100-T, sub-§2, as corrected by RR 2023, c. 2, Pt. C, §11, is amended to read: 2. Eligibility for tax credit certificate for individuals and entities other than venture capital funds. The authority shall adopt rules in accordance with the Maine Administrative Procedure Act, Title 5, chapter 375, to implement the program. Without limitation, the requirements for eligibility for a tax credit certificate include the following. A. For investments made in tax years beginning before January 1, 2012, a tax credit certificate may be issued in an amount not more than 40% of the amount of cash actually invested in an eligible Maine business in any calendar year or in an amount not more than 60% of the amount of cash actually invested in any one calendar year in an eligible Maine business …

Read the full official text

Sponsors

• William Pluecker (I, 44) · primary sponsor
• Russell Black (R, 5)