| | | 2. Credit allowed. A taxpayer is allowed a credit against | | the tax imposed by this Part in an amount equal to the qualifying | | portion of expenditures paid or expenses incurred by the taxpayer | | for investments in quality child care services during the tax | | year as calculated pursuant to subsection 3. |
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| | | 3. Qualifying portion. For purposes of calculating the | | credit provided by this section, the qualifying portion is: |
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| | | A. For a corporation, 30% of up to $30,000 of expenditures, | | apportioned if part of an affiliated group engaged in a | | unitary business; and |
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| | | B. For an individual taxpayer, if the taxpayer expends at | | least $10,000 in one year, $1,000 each year for 10 years and | | $10,000 at the end of the 10-year period. |
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| | | 4. Limitation; carry-over. The credit allowed under | subsection 2 | | otherwise due under this Part below zero. Any unused portion of | | the credit may be carried over to the following year or years | | until exhausted. |
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| | | Sec. 40. 36 MRSA §5219-R, as reallocated by RR 1999, c. 1, §50, is | | amended to read: |
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| | | §5219-R. Credit for rehabilitation of historic properties |
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| | | 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 and to | | any available federal carry-back or carry-forward provisions. |
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| | | Sec. 41. 36 MRSA §5278, sub-§1, as amended by PL 1999, c. 521, Pt. B, | | §10 and affected by §11, is further amended to read: |
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| | | 1. General. A claim for credit or refund of an overpayment of | | any tax imposed by this Part must be filed by the taxpayer within | | 3 years from the time the return was filed, whether or not the | | return was timely filed, or 3 years from the time the tax was | | paid, whichever of such periods expires the later. A credit or | | refund is not allowed or may not be made after the expiration of | | the period of limitation prescribed in this subsection for the | | filing of a claim for credit or refund, unless a claim for credit | | or refund is filed by the taxpayer within such a period. For | | purposes of this | | subsection, any return filed before the last day |
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