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132nd MAINE LEGISLATURE |
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LD 146 |
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LR 525(01) |
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An Act to
Increase the Maximum Amount of the Historic Property Rehabilitation Tax
Credit That May be Taken in a Year |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Sen. Rotundo of Androscoggin |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2025-26 |
FY 2026-27 |
Projections FY 2027-28 |
Projections FY 2028-29 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$142,500 |
$142,500 |
$1,187,500 |
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| Revenue |
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General Fund |
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$0 |
($142,500) |
($142,500) |
($1,187,500) |
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Other Special Revenue Funds |
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$0 |
($7,500) |
($7,500) |
($62,500) |
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| Fiscal Detail
and Notes |
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This bill
includes a revenue decrease to the Bureau of Revenue Services within the
Department of
Administrative and Financial Services of $142,500 in fiscal year 2026-27 by
changing the maximum tax credit allowed for certified historic structure rehabilitation
projects for the first 2 years in which a credit may be claimed. It changes
the maximum from $5,000,000 in each of the first 2 years to $10,000,000 total
across the first 2 years combined beginning on or after January 1, 2025. |
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