| | |
C. Aggregate investment eligible for tax credits may not | | be more than $5,000,000 for any one business for any one | | private venture capital fund 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 any one business for any one private venture | | capital fund as of the date of issuance of a tax credit | | certificate for certificates issued and investments made | | after June 30, 2003 and before July 1, 2005. |
|
| | | D. The investment with respect to which any individual or | | entity is applying for a tax credit certificate may not be | | more than an aggregate of $500,000 in any one eligible | | business invested in by a private venture capital fund in | any 3 consecutive calendar years, except that this | paragraph does not limit other investment by any applicant | for which that applicant is not applying for a tax credit | certificate and except that, if | | respect to which any individual or entity is applying for | | a tax credit certificate may not be more than an aggregate | | of $200,000 in any one eligible business invested in by a | | private venture capital fund in any 3 consecutive calendar | | years relative to certificates issued and investments made | | after June 30, 2003 and before July 1, 2005.__If the | | entity applying for a tax credit certificate is a | | partnership, limited liability company, S corporation, | | nontaxable trust or any other entity that is treated as a | | flow-through entity for tax purposes under the federal | | Internal Revenue Code, the aggregate limit of $500,000 or | | $200,000, as applicable, applies to each individual | | partner, member, stockholder, beneficiary or equity owner | | of the entity and not to the entity itself. This | | paragraph does not limit other investment by any applicant | | for which that applicant is not applying for a tax credit | | certificate. |
|
| | | Sec. X-5. 10 MRSA §1100-T, sub-§4, as amended by PL 2001, c. 642, §9 | | and affected by §12, is further amended to read: |
|
| | | 4. Total of credits authorized. The authority may issue | | tax credit certificates to investors eligible pursuant to | | subsections 2 and 2-A in an aggregate amount not to exceed | | $2,000,000 up to and including calendar year 1996, $3,000,000 | | up to and including calendar year 1997, $5,500,000 up to and | | including calendar year 1998, $8,000,000 up to and including | | calendar year 2001, $11,000,000 up to and including calendar | year 2002$14,000,000 up to and including calendar year | 2003, $17,000,000 up to and including calendar year 2004, | | $20,000,000 up to and including calendar year 2005, | | $23,000,000 up to and including calendar year 2006, | | $26,000,000 up to and including |
|
|
