Sec. 1. 36 MRSA §5122, sub-§1, ¶J, as amended by PL 1999, c. 731, Pt. X, §1 and affected by §§4 and 5, is further amended to read:

J. The amount claimed as a business expense that is included in the investment credit for the high-technology investment tax credit; and

Sec. 2. 36 MRSA §5122, sub-§1, ¶K, as amended by PL 1999, c. 731, Pt. X, §2 and affected by §§4 and 5, is further amended to read:

K. For income tax years beginning on or after January 1, 1997, all items of loss, deduction and other expense of a financial institution subject to the tax imposed by section 5206, to the extent that those items are passed through to the taxpayer for federal income tax purposes, including, if the financial institution is an S corporation, the taxpayer's pro rata share and, if the financial institution is a partnership or limited liability company, the taxpayer's distributive share. An addition may not be made under this paragraph for any losses recognized on the disposition by a taxpayer of an ownership interest in a financial institution.; and

Sec. 3. 36 MRSA §5122, sub-§1, ¶M is enacted to read:

M.__Amounts withdrawn pursuant to section 6603, subsection 3 by the taxpayer during the taxable year from an individual medical savings account established in the taxpayer's name.

Sec. 4. 36 MRSA §5122, sub-§2, ¶L, as amended by PL 1999, c. 708, §35 and c. 731, Pt. S, §2 and affected by §4 and amended by c. 790, Pt. A, §49, is repealed and the following enacted in its place:

L.__For income tax years beginning on or after January 1, 2000, an amount equal to the total premiums spent for qualified long-term care insurance contracts as defined in the Code, Section 7702B(b), as long as the amount subtracted is reduced by the long-term care premiums claimed as an itemized deduction pursuant to section 5125;

Sec. 5. 36 MRSA §5122, sub-§2, ¶M, as enacted by PL 1999, c. 708, §36 and c. 731, Pt. S, §3 and affected by §4, is repealed and the following enacted in its place: