Sec. C-4. Application. This Part applies to tax years beginning on or after January 1, 2006.

PART D

Sec. D-1. 36 MRSA §5219-S, as amended by PL 2003, c. 20, Pt. GG, §1, is further amended by adding at the end a new paragraph to read:

For tax years beginning on or after January 1, 2006, a taxpayer is allowed a refundable credit against the taxes otherwise due under this Part equal to 25% of the federal earned income credit for the same taxable year.

Sec. D-2. Application. This Part applies to tax years beginning on or after January 1, 2006.

PART E

Sec. E-1. 36 MRSA §5122, sub-§1, śN, as amended by PL 2005, c. 12, Pt. P, §2 and affected by §10, is further amended to read:

N. With respect to property placed in service during the taxable year, an amount equal to the net increase in depreciation or expensing attributable to:

(1) For taxable years beginning on or after January 1, 2002 but prior to January 1, 2006, a 30% bonus depreciation deduction claimed by the taxpayer pursuant to Section 101 of the federal Job Creation and Worker

Assistance Act of 2002, Public Law 107-147 with respect to property placed in service during the taxable year;

(2) For taxable years beginning on or after January 1, 2002 but prior to January 1, 2006, a 50% bonus depreciation deduction claimed by the taxpayer pursuant to Section 201 of the federal Jobs and Growth Tax Relief Reconciliation Act of 2003, Public Law 108-27