PUBLIC Law Chapter 20

	7. Rulemaking. The authority, after consultation with the
Bureau of Revenue Services, shall establish rules for the
application, eligibility and annual filing requirements necessary
to implement the certification of qualified scholarship
organizations pursuant to this section and may include any rules
necessary to establish initial application fees and penalties,
which may include monetary penalties and revocation of
certification, to ensure that a qualified scholarship
organization is fulfilling the requirements of this section.
These rules may also include any necessary conflict-of-interest
provisions pertaining to qualified scholarship organizations.
The authority shall also establish any rules necessary to define
postsecondary education loans that are eligible for the
recruitment credits provided under Title 36, sections 2528 and
5219-V. Rules adopted pursuant to this subsection, including
those setting initial application fees and penalties, are routine
technical rules as defined in Title 5, chapter 375, subchapter
~~II-A~~ 2-A. The authority shall submit a report to the joint
standing committee of the Legislature having jurisdiction over
education and cultural affairs and to the joint standing
committee of the Legislature having jurisdiction over taxation
matters by January 30, ~~2003~~ 2005 on the rules and rule-making
process to implement the tax credit program established pursuant
to this subchapter.

Sec. DD-3. 36 MRSA §2527, sub-§2, ¶¶B and C, as enacted by PL 2001, c.
700, §2 and affected by §10, are amended to read:

B. Twenty percent of the amount contributed during the
taxable year to a qualified scholarship organization for
need-based scholarships for tax years beginning in ~~2004~~
2005; or

C. Fifty percent of the amount contributed during the
taxable year to a qualified scholarship organization for
need-based scholarships for tax years beginning after ~~2004~~
2005.

Sec. DD-4. 36 MRSA §2528, sub-§1, ¶B, as enacted by PL 2001, c. 700, §2
and affected by §10, is amended to read:

B. Beginning in ~~2004~~ 2005, 15% of the amount of loan
repayments paid during the taxable year to a creditor on
behalf of an employee of the taxpayer as part of a
postsecondary education loan repayment agreement between the
taxpayer and the employee of the taxpayer.

Sec. DD-5. 36 MRSA §5219-U, sub-§2, ¶¶B and C, as enacted by PL 2001, c.
700, §4 and affected by §10, are amended to read:

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