An Act To Expand the Pine Tree Development Zone Benefits to Small and Midsize Maine Manufacturers
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 30-A MRSA §5250-S, sub-§1, ¶B, as enacted by PL 2007, c. 240, Pt. QQQQ, §1, is amended to read:
B. Makes a written commitment to expand its business at one of its current locations in the State by adding at the location of expansion a minimum of 20 4 net new, full-time employees for whom a retirement program subject to the federal Employee Retirement Income Security Act of 1974, 29 United States Code, Sections 1001 to 1461, as amended, and group health coverage are provided and whose income derived from employment at the business's location of expansion, calculated on a calendar-year basis, is greater than the most recent annual per capita personal income in the county in which the employee is employed; and
Sec. 2. 30-A MRSA §5250-S, sub-§1, ¶C, as enacted by PL 2007, c. 240, Pt. QQQQ, §1, is amended to read:
C. Makes a written commitment to invest a minimum of $2,000,000 $225,000 in its expansion at one of its current locations.
summary
Under this bill, Pine Tree Development Zone benefits are made available to more small and midsize Maine manufacturing companies by lowering the new net employee minimum to 4 and the investment minimum to $225,000.