An Act Regarding Business Income Tax

CONCEPT DRAFT SUMMARY

This bill is a concept draft pursuant to Joint Rule 208.

This bill proposes to provide an income tax credit for a business that makes a voluntary contribution to fully or partially fund a qualifying local project that would otherwise need to be funded by the State. Qualifying projects would include those funded through the Maine Municipal Bond Bank or local projects involving high-priority infrastructure or otherwise approved by a municipality as a priority project.