| | |
calendar year 2007 and $30,000,000 thereafter. The authority | | may provide that investors eligible for a tax credit under this | | section in a year when there is insufficient credit available | | are entitled to take the credit when it becomes available. |
|
| | | Sec. X-6. 36 MRSA §5216-B, sub-§2, as amended by PL 2001, c. 642, §11 | | and affected by §12, is further amended to read: |
|
| | | 2. Credit. An investor is entitled to a credit against the | | tax otherwise due under this Part equal to the amount of the | | tax credit certificate issued by the Finance Authority of | | Maine in accordance with Title 10, section 1100-T and as | | limited by this section. In the case of partnerships, limited | | liability companies, S corporations, nontaxable trusts and any | | other entities that are treated as flow-through entities for | | tax purposes under the Code, the individual partners, members, | | stockholders, beneficiaries or equity owners of such entities | | must be treated as the investors under this section and are | | allowed a credit against the tax otherwise due from them under | | this Part in proportion to their respective interests in those | | partnerships, limited liability companies, S corporations, | | trusts or other flow-through entities. Except as limited or | | authorized by subsection 3 or 4, for credit certificates | | issued and investments made after June 30, 2001 but before | | July 1, 2002 and after June 30, 2005, 25% of the credit must | | be taken in the taxable year the investment is made and 25% | | per year must be taken in each of the next 3 taxable years. | | Except as limited or authorized by subsection 3 or 4, for | | credit certificates issued after June 30, 2003 but before July | | 1, 2005, 15% of the credit must be taken in the first 6 years | | after the investment is made and 10% in the 7th year after the | | investment is made. |
|
| | | Sec. Y-1. P&SL 2001, c. 67, §1, sub-§2 is amended to read: |
|
| | | 2. Credit. Beginning July 1, 2003 | | insurance company or association that does business or | | collects premiums or assessments in the State that paid the | special assessment in section | | may take a credit against its premium tax owed under Title 36, | | chapter 357 equal to the special assessment paid in the same | month the previous | | 2003. |
|
| | | Sec. Z-1. 36 MRSA §1760, sub-§31, ķA, as amended by PL 2001, c. 714, | | Pt. Z, §1, is further amended to read: |
|
|
