124th MAINE LEGISLATURE
		LD 1666		LR 2135(01)
	An Act To Improve the Seed Capital Investment Tax Credit Program
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Mitchell of Kennebec
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Current biennium revenue decrease - General Fund
Fiscal Detail and Notes
	Expansion of the seed capital investment tax credit program by (1) increasing the credit from 40% of an eligible investment not in an area of high unemployment to 60%; (2) raising the individual/entity tax credit limit in certain circumstances from $200,000 to $500,000; (3) increasing the aggregate amount of credits issuable by the Finance Authority of Maine from $30,000,000 to $50,000,000 commencing in calendar year 2012; and (4) providing for expanded credit refundability will reduce General Fund revenues.  No estimate of the amount of the revenue decrease is made at this time.