SP0497, LD 1364, item 3, Document Text

Amend the bill in section 1 by striking out all of subsection 18 (page 1, lines 4 to 24 in L.D.) and inserting the following:

‘18. Qualified Pine Tree Development Zone employees. "Qualified Pine Tree Development Zone employees" means new, full-time employees hired in this State by a qualified Pine Tree Development Zone business for work directly in one or more qualified business activities for whom a retirement program subject to the Employee Retirement Income Security Act of 1974, 29 United States Code, Sections 101 to 1461, as amended, and group health insurance are is provided and whose income derived from employment within the Pine Tree Development Zone, calculated on a calendar year basis, is greater than the most recent annual per capita personal income in the county in which the qualified employee is employed. "Qualified Pine Tree Development Zone employees" does not include employees shifted to a qualified business activity from a nonqualified activity of the qualified Pine Tree Development Zone business or an affiliated business. The commissioner shall determine whether a shifting of employees has occurred.’

Amend the bill by striking out all of section 2 (page 1, lines 25 to 30 in L.D.)

Amend the bill in section 6 by striking out all of subsection 12 (page 2, lines 19 to 41 in L.D.) and inserting the following:

‘12. Qualified employee. "Qualified employee" means a new, full-time employee hired in this State by a qualified business, for whom a retirement program subject to the Employee Retirement Income Security Act of 1974, 29 United States Code, Chapter 18 and group health insurance are is provided, and whose income derived from employment with the applicant, calculated on a calendar year basis, is greater than the most recent annual per capita personal income in the county in which the qualified employee is employed, as long as Maine income tax withholding attributed to the qualified employee is subject to reimbursement to the qualified business under this chapter. "Qualified employee" does not include an employee who is shifted to a qualified business from an affiliated business. The commissioner shall determine whether a shifting of employees has occurred.’

Amend the bill by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.

summary

This amendment eliminates the provisions of the bill that change the income requirements in the definition of "qualified Pine Tree Development Zone employee" in the Pine Tree Development Zone laws and "qualified employee" in the Maine Employment Tax Increment Financing Act.

SP0497 LD 1364	Session - 127th Maine Legislature S "A", Filing Number S-234, Sponsored by Volk		LR 477 Item 3
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