An Act To Establish the Maine New Markets Capital Investment Program
Sec. 1. 10 MRSA c. 110, sub-c. 12 is enacted to read:
MAINE NEW MARKETS CAPITAL INVESTMENT PROGRAM
§ 1100-Z. Maine New Markets Capital Investment Program
Sec. 2. 36 MRSA §5219-FF is enacted to read:
§ 5219-FF. New markets capital investment credit
Any amount of credits that is subject to recapture under this subsection must be recaptured from the taxpayer that actually claimed the credit.
This bill enacts the Maine New Markets Capital Investment Program in order to attract investment in economically distressed areas of Maine. The program is modeled after the federal New Markets Tax Credit Program.