| | | Sec. X-1. 10 MRSA §1100-T, sub-§2, ¶A, as amended by PL 2001, c. 642, | | §4 and affected by §12, is further amended to read: |
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| | | A. 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, for | | certificates issued and investments made after June 30, | | 2002 but before July 1, 2003 and after June 30, 2005, in | | an amount not more than 60% of the amount of cash actually | | invested in any one calendar year in an eligible Maine | | business located in a high-unemployment area, as | | determined by rule by the authority. Rules adopted | | pursuant to this section are routine technical rules as | defined in Title 5, chapter 375, subchapter II-A |
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| | | Sec. X-2. 10 MRSA §1100-T, sub-§2, ¶C, as amended by PL 2001, c. 642, | | §5 and affected by §12, is further amended to read: |
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| | | C. Aggregate investment eligible for tax credits may not | | be more than $5,000,000 for any one business as of the | | date of issuance of a tax credit certificate, except that | | the aggregate investment eligible for tax credits may not | | be more than $1,000,000 for certificates issued and | | investments made after June 30, 2003 and before July 1, | | 2005. |
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| | | Sec. X-3. 10 MRSA §1100-T, sub-§2, ¶D, as amended by PL 2001, c. 642, | | §6 and affected by §12, is further amended to read: |
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| | | D. The investment with respect to which any individual is | | applying for a tax credit certificate may not be more than | | an aggregate of $500,000 in any one business in any 3 | consecutive calendar years, except that this | | investment with respect to which any individual is | | applying for a tax credit certificate may not be more than | | an aggregate of $200,000 in any one business in any 3 | | consecutive calendar years for certificates issued and | | investments made after June 30, 2003 and before July 1, | | 2005.__This paragraph does not limit other investment by | | any applicant for which that applicant is not applying for | | a tax credit certificate. |
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| | | Sec. X-4. 10 MRSA §1100-T, sub-§2-A, ¶¶A, C and D, as amended by PL 2001, | | c. 642, §8 and affected by §12, are further amended to read: |
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| | | A. A tax credit certificate may be issued to an | | individual who invests in a private venture capital fund | | in an amount that: |
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| | | (1) Is not more than 40% of the amount of cash actually | | invested in or unconditionally committed to a private |
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