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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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| | more than $1,000,000 for certificates issued and investments | made after June 30, 2003 and before July 1, 2005 |
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| | | 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: |
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| | | 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 | | other investment by any applicant for which that applicant | | is not applying for a tax credit certificate. |
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| | | 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: |
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| | | A. A tax credit certificate may be issued to an individual | | who invests in a private venture capital fund in an amount | | that: |
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| | | (1) Is not more than 40% of the amount of cash | | actually invested in or unconditionally committed to a |
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