Sec. 9. 36 MRSA §5122, sub-§2, ¶T, as reallocated by RR 2003, c. 1, §37, is amended to read:

T. For income tax years beginning on or after January 1, 2002 and before January 1, 2004, an amount equal to the total premiums spent for long-term care insurance policies certified under Title 24-A, section 5075-A as long as the amount subtracted is reduced by the long-term care premiums claimed as an itemized deduction pursuant to section 5125.

For income tax years beginning on or after January 1, 2004, an amount equal to the total premiums spent for qualified long-term care insurance contracts certified under Title 24- A, section 5075-A, as long as the amount subtracted is reduced by any amount claimed as a deduction for federal income tax purposes in accordance with the Code, Section 162(l) and by the long-term care premiums claimed as an itemized deduction pursuant to section 5125.

Sec. 10. 36 MRSA §5200-A, sub-§2, ¶C, as amended by PL 2003, c. 390, §42, is further amended to read:

C. An amount equal to the taxpayer's federal work opportunity credit as determined under the Code, Section 51 or empowerment zone employment credit as determined under the laws of the United States Code, Section 1396;

Sec. 11. Application. Those sections of this Act that amend the Maine Revised Statutes, Title 36, section 5122, subsection 2, paragraphs B, L and T and section 5200-A, subsection 2, paragraph C apply to tax years beginning on or after January 1, 2004.

SUMMARY

This bill makes the following changes to the laws governing taxation.

The bill adds retailers of low-energy fuel to the categories of persons who are subject to revocation of their registration certificate if they fail to comply with a notice to segregate trust fund taxes. The change was inadvertently omitted from legislation enacted in the 119th Legislature that established this new category of licensee under the Special Fuel Tax Act.