This bill increases the total amount of credits authorized under the Maine Seed Capital Tax Credit Program.
This bill amends the Maine Seed Capital Tax Credit Program to increase the total amount of credits authorized. It raises the annual limit from $5,000,000 to $10,000,000 for investments made between 2014 and 2026, and sets a $10,000,000 limit for each year starting in 2027. The Finance Authority of Maine can issue tax credit certificates to eligible investors, with provisions for those who cannot take the credit immediately due to insufficient credits.
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