An Act To Lower the Tax Burden for Small Businesses and Low-income Families Further amend the bill by striking out everything after the enacting clause and before the summary and inserting in its place the following: Sec. 1. 36 MRSA §5122, sub-§I, lIN, as amended by PL 2005, c. 12, Pt. P, §2, is further amended to read: N. With respect to property placed in service during the taxable year, an amount equal to the net increase in depreciation or expensing attributable to: (1) For taxable years beginning on or after January 1, 2002 but prior to January 1, ;6999 l.QQ5., a 30% bonus depreciation deduction claimed by the taxpayer pursuant to Section 101 of the federal Job Creation and Worker Assistance Act of 2002, Public Law 107-147 with respect to property placed in service during the taxable year: (2) For taxable years beginning on or after January 1, 2002 but prior to January 1, ;6999 2005, a 50% bonus depreciation deduction claimed by the taxpayer pursuant to Section 201 of the federal Jobs and Growth Tax Relief Reconciliation Act of 2003, Public Law 108-27 with respect to property placed in service during the taxable year; and Page 1-LR0390(2) COMMITTEE AMENDMENT
Maine Legislature, Session 122, LD 0632
Committee Amendment CA_A_H586 (House)
Amends: 36 MRSA §5122, 36 MRSA §5200-A, 36 MRSA §5219-S

COMMITTEE AMENDMENT .. A. to H.P. 465, L.D. 632, Bill, 
Act To Lower the Tax Burden for Small Businesses" 
"An 
Amend the bill by striking out the title and substituting 
the following: 
• An Act 
To 
Lower 
the Tax 
Burden for Small Businesses and 
Low-income Families' 
Further amend the bill by striking out everything after the 
enacting clause and before the summary and inserting in its place 
the following: 
'Sec. 1. 36 MRSA §5122, sub-§I, lIN, as amended by PL 2005, c. 
12, Pt. P, §2, is further amended to read: 
N. 
With respect to property placed in service during the 
taxable year, 
an 
amount 
equal 
to the net 
increase in 
depreciation or expensing attributable to: 
(1) For taxable years beginning on or after January 1, 
2002 but prior to January 1, 
;6999 l.QQ5., 
a 
30% bonus 
depreciation deduction claimed by the taxpayer pursuant 
to Section 101 of the federal Job Creation and Worker 
Assistance Act of 2002, Public Law 107-147 with respect 
to property placed in service during the taxable year: 
(2) For taxable years beginning on or after January 1, 
2002 but prior to January 1, 
;6999 2005, 
a 
50% bonus 
depreciation deduction claimed by the taxpayer pursuant 
to Section 201 of the federal Jobs and Growth Tax 
Relief Reconciliation Act of 2003, Public Law 108-27 
with respect to property placed in service during the 
taxable year; and 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT .. A 
.. to H.P. 465, L.D. 632 
(3) For taxable years beginning on or after January 1, 
2003 but prior to January 1, 6008 2005, the increase in 
aggregate cost claimed under Section 179 of the Code 
pursuant to Section 202 of the federal Jobs and Growth 
Tax Relief Reconciliation Act 
of 
2003, 
Public 
Law 
108-27 
or pursuant 
to Section 
of 
the 
federal 
American Jobs Creation Act of 2004, Public Law 108-357; 
Sec. 2. 36 MRSA §5200-A, sub-§l, 1[N, as amended by PL 2005, c. 
12, Pt. P, §7, is further amended to read: 
N. 
With respect to property placed in service during the 
taxable year, 
an 
amount 
equal 
to 
the 
net 
increase in 
depreciation or expensing attributable to: 
(1) For taxable years beginning on or after January 1, 
2002 but prior to January 1, 600& ~, a 
30'-
bonus 
depreciation deduction claimed by the taxpayer pursuant 
to Section 101 of the federal Job Creation and Worker 
Assistance Act of 2002, Public Law 107-147 with respect 
to property placed in service during the taxable year; 
(2) For taxable years beginning on or after January 1, 
2002 but prior to January 1, 600& ~, a 
50'-
bonus 
depreciation deduction claimed by the taxpayer pursuant 
to Section 201 of the federal Jobs 
and Growth Tax 
Relief Reconciliation Act of 2003, Public Law 108-27 
with respect to property placed in service during the 
taxable year; and 
(3) For taxable years beginning on or after January 1, 
2003 but prior to January 1, 600g 2005, the increase in 
aggregate cost claimed under Section 179 of the Code 
pursuant to Section 202 of the federal Jobs and Growth 
Tax Relief Reconciliation Act 
of 
2003, 
Public 
Law 
108-27 or pursuant 
to Section 
of 
the 
federal 
American Jobs Creation Act of 2004, Public Law 108-357; 
Sec. 3. 36 MRSA §5219-S, as amended by PL 2003, c. 20, Pt. 
GG, §l, is further amended to read: 
§5219-S. Earned income credit 
A taxpayer is allowed a refundable credit against the taxes 
otherwise due under this Part equal to 5'l-o of the federal earned 
income credit for the same taxable year, except that for tax 
years beginning in 
2003 r 
and 
2004 
aae--600§, 
the 
applicable 
percentage is 4.92'-
~aSEeaQ-9~-9%. 
~he-e~eeiE-may-aeE-~eeQee-~he 
sEa~e-~ae9me-~aH-~9-1ess-Ehaa-Be~9T 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT .. A'to H.P. 465, L.D. 632 
Sec. 4. Application. 
This Act applies to tax years beginning 
on or after January 1, 2005. I 
SUMMARY 
This 
amendment 
incorporates 
changes 
enacted 
as part of 
Public Law 2005, chapter 12. 
The amendment also adds a section 
making the earned income tax credit refundable and restores that 
credit to 540 of the federal credit for tax years beginning in 
2005. 
COMM/rrEE AMENDMENT 
Net Cost (Savings) 
General Fund 
Revenue 
General FWld 
Approved: 05/27/05 ~ae 
LD632 
LR0390(02) 
An Act To Lower the Tax Burden for Small Businesses 
Fiscal Note for Bill as Amended by Committee Amendment ,A" 
Committee: Taxation 
Fiscal Note Required: Yes 
Fiscal Note 
2005-06 
2006-07 
$13,779,248 
$10,328,628 
($13,779,248) 
($10,328,628) 
Projections 
2007-08 
$5,979,068 
Projections 
2008-09 
$210,846 
Other Special Revenue Funds 
($741,483) 
($554,968) 
($5,979,068) 
($327,966) 
($210,f 
($11,56:» 
Fiscal Detail and Notes 
This bill is expected to reduce General Fund income tax revenue by $13,779,248 in fiscal year 2005-06 and 
$10,328,628 in fiscal year 2006-07. 
LR0390(2) - Fiscal Note - Page 1 of 1