Maine § 36 §5219-YY-2 Credit for paper manufacturing facility investment

Maine Statutes

§ 36 §5219-YY-2 — Credit for paper manufacturing facility investment

Maine·Title 36 TAXATION·Part 8 INCOME TAXES·Ch. 822 TAX CREDITS

1.Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.

2.Procedures for application; certificate of approval. This subsection governs the procedures for providing for and obtaining a certificate of approval.

3.Refundable credit allowed. For tax years beginning on or after January 1, 2024, a certified applicant is allowed a credit as provided in this subsection.

4.Reporting required. A certified applicant, the commissioner and the assessor are required to make reports pursuant to this subsection.

5.Rules; fees. The commissioner and the assessor may jointly adopt rules to implement this section, including, but not limited to, rules for determining and certifying eligibility. The commissioner may also by rule estab

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1.
Definitions.
As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
2.
Procedures for application; certificate of approval.
This subsection governs the procedures for providing for and obtaining a certificate of approval.
3.
Refundable credit allowed.
For tax years beginning on or after January 1, 2024, a certified applicant is allowed a credit as provided in this subsection.
4.
Reporting required.
A certified applicant, the commissioner and the assessor are required to make reports pursuant to this subsection.
5.
Rules; fees.
The commissioner and the assessor may jointly adopt rules to implement this section, including, but not limited to, rules for determining and certifying eligibility. The commissioner may also by rule establish fees to offset the costs of administering this section. Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2‑A. Any fees collected pursuant to this subsection must be deposited into a special revenue account administered by the commissioner, and those fees may be used only to defray the actual costs of administering the credit under this section.
6.
Evaluation; specific public policy objectives; performance measures.
The credit provided under this section is subject to ongoing legislative review in accordance with Title 3, chapter 37. In developing evaluation parameters to perform the review, the Office of Program Evaluation and Government Accountability, the joint legislative committee established to oversee program evaluation and government accountability matters and the joint standing committee of the Legislature having jurisdiction over taxation matters shall consider:

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