126th MAINE LEGISLATURE
		LD 1099		LR 1629(01)
	An Act To Provide an Internship Employment Tax Credit
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Goodall of Sagadahoc
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Current biennium revenue decrease - General Fund Current biennium cost increase - General Fund
Fiscal Detail and Notes
	Creating a nonrefundable tax credit equal to 10% of the wages, stipend or salary paid to a qualified intern for employers of the intern, with a $3,000 cap on total tax credits for all taxable years, will reduce General Fund revenue and will require a one-time General Fund appropriation to adjust the necessary income tax returns.  A similar bill introduced in the 125th Legislature identified the revenue reductions at approximately $17,000 per year and the costs to implement the tax return changes at $33,000.