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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. |