Sec. TTT-1. 5 MRSA §13070-J, sub-§1, ¶D, as corrected by RR 2001, c. 2, Pt. A, §11, is amended to read:
D. "Economic development incentive" means:
(1) Assistance from Maine Quality Centers under Title 20-A, chapter 431-A;
(2) The Governor's Training Initiative Program under Title 26, chapter 25, subchapter 4;
(3) Municipal tax increment financing under Title 30-A, chapter 206;
(4) The jobs and investment tax credit under Title 36, section 5215;
(5) The research expense tax credit under Title 36, section 5219-K;
(6) Reimbursement for taxes paid on certain business property under Title 36, chapter 915;
(7) Employment tax increment financing under Title 36, chapter 917;
(8) The shipbuilding facility credit under Title 36, chapter 919; or
(9) The credit for seed capital investment under Title 36, section 5216-B.; or
(10) The credit for pollution-reducing boilers under Title 36, section 5219-Z.
Sec. TTT-2. 36 MRSA §5219-Z is enacted to read:
§5219-Z. Tax credit for pollution-reducing boilers
1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.
A. "Department" means the Department of Environmental Protection.
B. "Organic material" means material that produces energy when burned, including organic waste, municipal sludge and sewage and oceanic and terrestrial crops.
C. "Pollution-reducing boiler or furnace system" means a boiler or furnace system placed into operation on or after January 1, 2006 that, without increasing the total output of nitrogen-oxygen compounds, burns organic material while:
(1) Eliminating the amount of emissions of oxides of nitrogen that would have resulted from using air for combustion; and
(2) Meeting standards established by the department.
2. Tax credit; transferability. A business that uses a pollution-reducing boiler or furnace system on the site of its business, certified by the department, is entitled to a credit against taxes due under this Part. The amount of the tax credit is equal to 1.5¢ per kilowatt-hour or its equivalent in heat energy produced by the pollution-reducing boiler or furnace system, but in no case may the credit exceed the amount of tax owed pursuant to this Part. The department shall annually certify the number of kilowatt-hours or its equivalent in heat energy produced by a certified pollution-reducing boiler or furnace system. Tax credits earned pursuant to this section may be carried over from one tax year to the next.
3. Other boiler or furnace system. A business that modifies a boiler or furnace system placed into operation prior to January 1, 2006 may qualify for the tax credit pursuant to subsection 2 if the existing boiler or furnace system is certified by the department as used in conjunction with technology that:
A. Eliminates the amount of emissions of oxides of nitrogen that would have resulted from using air for combustion; and
B. Meets standards established by the department.
The amount of the tax credit is limited to the kilowatt-hours or equivalent in heat energy produced certified by the department as attributable to the technology used in the boiler or furnace system.
4. Repeal. This section is repealed December 31, 2009.
Sec. TTT-3. Application. That section of this Act that enacts the Maine Revised Statutes, Title 36, section 5219-Z applies to income tax years beginning on or after January 1, 2006 but before January 1, 2010.
Sec. TTT-4. Appropriations and allocations. The following appropriations and allocations are made.
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Maine Revenue Services 0002
Initiative: Provides funds for the computer programming costs associated with the income tax credit for pollution-reducing boilers.
GENERAL FUND 2005-06 2006-07
All Other $0 $30,000
____________ ____________
GENERAL FUND TOTAL $0 $30,000
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