Sec. E-3. 10 MRSA §1100-T, sub-§2, ¶D, as amended by PL 2003, c. 20, Pt. X, §3, is further amended to read:

D. The investment with respect to which any individual is applying for a tax credit certificate may not be more than an aggregate of $500,000 in any one business in any 3 consecutive calendar years, except that the investment with respect to which any individual is applying for a tax credit certificate may not be more than an aggregate of $200,000 in any one business in any 3 consecutive calendar years for certificates issued and investments made after June 30, 2003 and before July 1, 2005. This this paragraph does not limit other investment by any applicant for which that applicant is not applying for a tax credit certificate.

Sec. E-4. 10 MRSA §1100-T, sub-§2-A, ¶¶A, C and D, as amended by PL 2003, c. 20, Pt. X, §4, are further amended to read:

A. A tax credit certificate may be issued to an individual who invests in a private venture capital fund in an amount that:

(1) Is not more than 40% of the amount of cash actually invested in or unconditionally committed to a private venture capital fund in any calendar year by the individual or entity, except that, for certificates issued and investments made after June 30, 2002 but before July 1, 2003 and after June 30, 2005, with respect to fund investments that are made in eligible businesses that are located in a high unemployment area, as determined by rule of the authority under subsection 2, the tax credit certificate may not be more than 60% of the cash actually invested in or unconditionally committed to a private venture capital fund in any calendar year by the individual or entity; and

(2) Does not exceed 40% of the amount of cash invested by the fund in eligible businesses, except that, for certificates issued and investments made after June 30, 2002 but before July 1, 2003 and after June 30, 2005, with respect to fund investments that are made in eligible businesses that are located in a high unemployment area, as determined by rule of the authority under subsection 2, a tax credit certificate may not be more than 60% of the cash invested by the fund in any calendar year in such businesses; provided