| | | commissioner, or the commissioner's designee, shall apply the | | established criteria to determine whether, and in what amount, to | | disburse money to the municipality. |
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| | | At the end of fiscal year 2004-05 any remaining funds must be | | distributed among those municipalities that have achieved | | savings. |
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| | | 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 | | 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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