132nd MAINE LEGISLATURE
		LD 1217		LR 1143(02)
	An Act Regarding the New Markets Tax Credit and the Maine New Markets Capital Investment Program
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2025-26	FY 2026-27	Projections  FY 2027-28	Projections  FY 2028-29
Net Cost (Savings)
	General Fund		$0	$0	$0	$15,000,000
Revenue
	General Fund		$0	$0	$0	($15,000,000)
Fiscal Detail and Notes
	This bill modifies and expands the Maine New Markets Capital Investment Program by establishing a new tax credit authority allocated by the Finance Authority of Maine. The bill delays initial credit claims, but extends credit claims over a five-year period resulting in a fiscal impact of $15,000,000 in fiscal year 2028-29. It is estimated this bill will result in a cumulative revenue decrease of $97,500,000 over 8 years beginning in fiscal year 2028-29. Any additional costs to the Finance Authority of Maine to implement the provisions of this bill are expected to be minor and can be absorbed within existing budgeted resources.