‘Sec. 1. 36 MRSA §5219-NN is enacted to read:
§ 5219-NN. Real property investment credit
For tax years beginning on or after January 1, 2015, a taxpayer with capital gains realized during the taxable year from the sale of real property in the State held by the taxpayer for business purposes for more than one year, to the extent the capital gains are included in federal adjusted gross income or federal taxable income, is allowed a credit against the taxes imposed under this Part equal to 5% of the capital gains.
Sec. 2. Appropriations and allocations. The following appropriations and allocations are made.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Revenue Services, Bureau of 0002
Initiative: Provides one-time funding for computer programming costs to make changes to tax forms.
|GENERAL FUND TOTAL||$33,000||$0|