H.P. 932 - L.D. 1309
An Act to Make Technical Changes and Improvements to the Employment Tax Increment Financing Program
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §6753, sub-§10, as amended by PL 1997, c. 766, §1, is further amended to read:
10. Labor market unemployment rate. "Labor market unemployment rate" means the average seasonally adjusted unemployment rate as published by the Department of Labor for the labor market or markets in which potential qualified employees are located and in which reimbursement is claimed under this chapter for the 3 12 most recently reported months preceding the date of application for employment tax increment financing and for the 3 12 most recently reported months preceding the beginning of the 6th year of an approved employment tax increment financing development program.
Sec. 2. 36 MRSA §6753, sub-§12, as amended by PL 1997, c. 766, §2, is further amended to read:
12. Qualified employees. "Qualified employees" means new, full-time employees hired in this State by a qualified business and for whom a retirement program subject to the Employee Retirement Income Security Act of 1974, 29 United States Code, Sections 101 to 1461, as amended, and group health insurance are provided, and whose income derived from employment with the applicant, calculated on a calendar year basis is greater than the average annual per capita income in the labor market area county in which the qualified employee is employed and whose state income withholding taxes are subject to reimbursement to the qualified business under this chapter. "Qualified employees" must be residents of this State.
Sec. 3. 36 MRSA §6753, sub-§13, as enacted by PL 1995, c. 669, §5, is amended to read:
13. State unemployment rate. "State unemployment rate" means the average unemployment rate as published by the Department of Labor for the State as a whole, for the calendar year for which reimbursement is claimed 12 most recently reported months preceding the date of application for employment tax increment financing and for the 12 most recently reported months preceding the beginning of the 6th year of an approved employment tax increment financing development program.
Sec. 4. 36 MRSA §6754, sub-§2, ¶B, as enacted by PL 1995, c. 669, §5, is amended to read:
B. Reimbursement to a qualified business approved pursuant to this chapter expires 10 years after the date on which benefits commenced under the employment tax increment financing development program was approved.
Effective September 18, 1999, unless otherwise indicated.
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