‘Sec. 1. 36 MRSA §191, sub-§2, ¶HHH is enacted to read:
HHH. The disclosure of information to the Department of Economic and Community Development necessary for administration of the renewable chemicals tax credit pursuant to section 5219-VV.’
| HP1213 LD 1698 |
Session - 129th Maine Legislature C "B", Filing Number H-553, Sponsored by
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LR 1741 Item 3 |
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| Bill Tracking, Additional Documents | Chamber Status | ||
Amend the bill by inserting after the enacting clause and before section 1 the following:
‘Sec. 1. 36 MRSA §191, sub-§2, ¶HHH is enacted to read:
Amend the bill in section 2 in §5219-VV in subsection 1 in paragraph C by striking out all of subparagraph (4) (page 1, lines 25 to 32 in L.D.) and inserting the following:
(4) Is not sold or used for production of any food, feed or fuel, except that "renewable chemical" may include:
(a) Cellulosic sugars used to produce aquaculture feed; and
(b) A food additive, supplement, vitamin, nutraceutical or pharmaceutical that does not provide caloric value and is not considered food or feed.
Amend the bill in section 2 in §5219-VV in subsection 2 in the 3rd line (page 1, line 35 in L.D.) by striking out the following: " 7¢" and inserting the following: ' 12¢'
Amend the bill in section 2 in §5219-VV by striking out all of subsection 3 (page 2, lines 1 to 20 in L.D.).
Amend the bill in section 2 in §5219-VV in subsection 4 in the first line (page 2, line 21 in L.D.) by striking out the following: " either subsection 2 or 3" and inserting the following: ' subsection 2'
Amend the bill in section 2 in §5219-VV by renumbering the subsections to read consecutively.
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.
SUMMARY
This amendment includes a provision permitting the Department of Administrative and Financial Services, Maine Revenue Services to provide to the Department of Economic and Community Development information necessary for administration of the renewable chemicals tax credit and strikes language that would create an overlap of the renewable chemicals tax credit and the credit for the commercial production and use of biofuels. The amendment also removes provisions establishing different tiers of credit calculation if a taxpayer uses contractors that are 3rd-party certified by a northeast master logger program and has employees at least 50% of whom or 75% of whom are residents of the United States.