An Act To Restore Benefits under the Circuitbreaker Program
Maine Legislature, Session 123, LD 2305
Senate Amendment SA_A_S617 (Senate)

SENATE AMENDMENT" A" to S.P. 921, L.D. 2305, Bill, "An Act To Restore 
Benefits under the Circuitbreaker Program" 
Amend the bill by striking out all of Part B and inserting the following: 
'PARTB 
Sec. B-1. 36 MRSA §S200-A, sub-§l, ~S, as amended by FL 2007, c. 539, Pt. 
CCC, § 14, is further amended to read: 
S. 
An amount equal to the taxpayer's federal deduction relating to income 
attributable to domestic production activities claimed in accordance with Section 102 
of the federal American Jobs Creation Act of2004, Public Law 108-357; aM 
Sec. B-2. 36 MRSA §S200-A, sub-§l, ~, as enacted by PL 2007, c. 539, Pt. 
CCC, § 15, is amended to read: 
T. For taxable years beginning on or after January 1, 2008 but prior to January 1, 
I 0, an amount equal to the net increase in depreciation attributable to the 50% 
bonus depreciation deduction claimed by the taxpayer pursuant to Section 103 of the 
Economic Stimulus Act of 2008, Public Law 110-185 with respect to property placed 
in service during the taxable year~; and 
Sec. B-3. 36 MRS A §S200-A, sub-§l, ~ 
is enacted to read: 
U. For tax years beginning in 2008,10% of the absolute value in excess of$100,000 
of any net operating loss that, pursuant to the Code, Section 172, is being carried over 
for federal income tax purposes to the taxable year by the taxpayer. 
Sec. B-4. 36 MRS A §S200-A, sub-§2, ~Q, as amended by PL 2007, c. 539, Pt. 
CCC, § 17, is further amended to read: 
Q. 
For income tax years beginning on or after January 1, 2006, to the extent 
included in federal taxable income and not otherwise removed from Maine taxable 
income, an amount equal to the total of capital gains and ordinary income resulting 
from depreciation recapture determined in accordance with the Code, Sections 1245 
and 1250 that is realized upon the sale of property certified as multifamily affordable 
SENATE AMENDMENT 
~~"4,. 
SENATE AMENDMENT ",A" to S.P. 921, L.D. 2305 
housing property by the Maine State Housing Authority in accordance with Title 30-
A, section 4722, subsection 1, paragraph AA; aHd 
Sec. B-S. 36 MRS A §S200-A, sub-§2, ~, as enacted by PL 2007, c. 539, Pt. 
CCC, § 18, is amended to read: 
R. For taxable years beginning on or after January 1, 2009, an amount equal to the 
net decrease in the depreciation deductions allowable under sections 167 and 168 of 
the Code that would have been applicable to that property had the 50% bonus 
depreciation deduction under Section 103 of the Economic Stimulus Act of 2008, 
Public Law 110-185 not been claimed with respect to such property for which an 
addition was required under subsection 1, paragraph T in a prior year. 
Upon the taxable disposition of property to which this paragraph applies, the amount 
of any gain or loss includable in federal adjusted gross income must be adjusted for 
Maine income tax purposes by an amount equal to the difference between the 
addition modification for such property under subsection 1, paragraph T and the 
subtraction modifications allowed rrursuant to this paragraph. 
The total amount of subtraction claimed for property under this paragraph for all tax 
years may not exceed the addition modification under subsection 1, paragraph T for 
the same property~; and 
Sec. B-6. 36 MRS A §S200-A, sub-§2, ~S is enacted to read: 
S. 
An amount equal to the value of any prior year addition modification under 
subsection 1, paragraph U, but only to the extent that: 
(I) Maine taxable income is not reduced below zero; 
(2) The taxable year is within the allowable federal period for carryover of the 
net operating loss plus one year; and 
. 
(3) The amount has not been previously used as a modification pursuant to this 
subsection. ' 
SUMMARY 
This amendment removes the changes to the recapture of carry-back net operating 
losses proposed in the bill. This amendment requires for income tax years beginning in 
2008 a corporation to increase its income, for Maine income tax purposes, by 10% of the 
value in excess of $100,000 of any net operating loss carried over for federal income tax 
purposes and allows the corporation during the allowable federal period for carryover of 
the loss plus one year to reduce its income, for Maine income tax purposes, by a like 
amount, with 
rtain limita: ions. 
SPONSO RED BY: ~)"---_. 
)_V_~--L",---=Y----=-h--",--,\\,--+-, --'~L-"--'O\4..A=~_ 
(Senator NASS, R.) 
COUNTY: York 
FISCAL .\OTE H.E(lLlREU 
(See attached) 
SENATE AMENDMENT 
Approved: 04/11108 MaC!. 
Net Cost (Savings) 
General Fund 
Revenue 
General Fund 
LD 2305 
LR 3622(02) 
An Act To Restore Benefits under the Circuitbreaker Program 
Fiscal Note for Senate Amendment" A" 
Sponsor: Sen. Nass, R. of York 
Fiscal Note Required: Yes 
Fiscal Note 
2007-08 
2008-09 
$0 
($14,235) 
Projections 
2009-10 
$6,613,485 
Other Special Revenue Funds 
$0 
$0 
$14,235 
$765 
($6,613,485) 
($362,765) 
Fiscal Detail and Notes 
Projections 
2010-11 
($1,667,295) 
$1,667,295 
$91,455 
The changes to the net operating loss provisions will increase General Fund revenue by $14,235 in fiscal year 2008-
09. 
As amended, this bill will have the following impact: 
Net Change to Circuitbreaker Revenue: 
General Fund 
Other Special Revenue Funds 
Total 
Net Change to Corporate Income Tax Revenue: 
General Fund 
Other Special Revenue Funds 
Total 
2008-09 
($1,347,580) 
($72,420) 
($1,420,000) 
$1,376,050 
$73,950 
$1,450,000 
LR3622(02) - Fiscal Note - Page 1 of 1 
Projections 
2009-10 
($1,784,348) 
($97,876) 
($1,882,224) 
($223,372) 
($12,252) 
($235,624) 
Projections 
2010-11 
($2,864,087) 
($157,101) 
($3,021,188) 
($360,832) 
($19,792) 
($380,624)