Sec. CC-2. 36 MRSA §2515, as amended by PL 1997, c. 435, §3, is further amended to read:

§2515. Amount of tax

In determining the amount of tax due under section 2513 or 2513-B, each company shall deduct from the full amount of gross direct premiums the amount of all direct return premiums on the gross direct premiums and all dividends paid to policyholders on direct premiums, and the tax must be computed by those companies or their agents. Except when direct return premiums are returned in the same tax year that the premium was paid, the deduction allowed in this section may be taken only if the tax under this Part has been paid.

Sec. CC-3. Application. Those sections of this Part that amend the Maine Revised Statutes, Title 36, sections 2513 and 2515 apply to all tax periods that are still open for purposes of assessment or for administrative and judicial review.

PART DD

Sec. DD-1. 10 MRSA §1100-Y, sub-§2, ķA, as enacted by PL 2001, c. 700, §1, is amended to read:

A. For initial certification, the organization must be a private, nonprofit organization that is qualified under Section 501(c)(3) of the Internal Revenue Code, that has as one of its purposes the provision of need-based scholarships to eligible students, that meets the standards adopted by the authority by rule under subsection 7, that files reports as required by this section and that:

(1) Is affiliated with and designated by an accredited institution of higher education in this State; or

(2) Has filed as a nonprofit corporation with the Secretary of State on or before April 1, 2002 2004 and remains continues as a nonprofit corporation in good standing with the Secretary of State.

Sec. DD-2. 10 MRSA §1100-Y, sub-§7, as enacted by PL 2001, c. 700, §1, is amended to read: