Sec. RRR-1. 36 MRSA §5219-Q is enacted to read:
§5219-Q. Credit for rehabilitation of historic properties
A taxpayer is allowed a credit against the tax imposed under this Part equal to the amount of credit claimed by the taxpayer under Section 47 of the Code with respect to a certified historic structure located in the State. The credit is nonrefundable and is limited to $100,000 annually per taxpayer. A credit received under this section is subject to the same recapture provisions as apply to a credit received under Section 47 of the Code.
Sec. RRR-2. Application. This Part applies to tax years beginning on or after January 1, 2000.
Sec. RRR-3. Appropriation. The following funds are appropriated from the General Fund to carry out the purposes of this Part.
2000-01
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Bureau of Revenue Services
All Other $6,000
Provides funds for one-time computer programming costs to add a line to the corporate income tax form.
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