| | | $6,600,000 annually beginning in the 1997-98 fiscal year, more | | than $6,735,000 beginning in the 1999-00 fiscal year, more than | $7,035,000 in the 2001-02 fiscal year or | | beginning in the 2002-03 fiscal year, more than $8,350,000 | | beginning in the 2003-04 fiscal year or more than $8,525,000 | | beginning in the 2004-05 fiscal year. Assessments collected that | | exceed $6,000,000 beginning in the 1995-96 fiscal year, | | $6,600,000 beginning in the 1997-98 fiscal year, $6,735,000 | | beginning in the 1999-00 fiscal year, $7,035,000 in fiscal year | | 2001-02 or $6,860,000 beginning in the 2002-03 fiscal year, | | $8,350,000 beginning in the 2003-04 fiscal year or $8,525,000 | | beginning in the 2004-05 fiscal year by a margin of more than 10% | | must be refunded to those who paid the assessment. Any amount | | collected above the board's allocated budget and within the 10% | | margin must be used to create a reserve of up to 1/4 of the | | board's annual budget. Any collected amounts or savings above | | the allowed reserve must be used to reduce the assessment for the | | following fiscal year. The board shall determine the assessments | | prior to May 1st and shall assess each insurance company or | | association and self-insured employer its pro rata share for | | expenditures during the fiscal year beginning July 1st. Each | | self-insured employer shall pay the assessment on or before June | | 1st. Each insurance company or association shall pay the | | assessment in accordance with subsection 3. |
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| | | Sec. E-1. 10 MRSA §1100-T, sub-§2, ¶A, as amended by PL 2003, c. 20, | | Pt. X, §1, is further amended to read: |
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| | | A. A tax credit certificate may be issued in an amount not | | more than 40% of the amount of cash actually invested in an | eligible Maine business in any calendar year or, for | certificates issued and investments made after June 30, 2002 | but before July 1, 2003 and after June 30, 2005, | | amount not more than 60% of the amount of cash actually | | invested in any one calendar year in an eligible Maine | | business located in a high-unemployment area, as determined | | by rule by the authority. Rules adopted pursuant to this | | section are routine technical rules as defined in Title 5, | | chapter 375, subchapter 2-A. |
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| | | Sec. E-2. 10 MRSA §1100-T, sub-§2, ¶C, as amended by PL 2003, c. 20, | | Pt. X, §2, is further amended to read: |
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| | | C. Aggregate investment eligible for tax credits may not be | | more than $5,000,000 for any one business as of the date of | issuance of a tax credit certificate, except that the | aggregate investment eligible for tax credits may not be |
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