An Act To Extend the Historic Preservation Tax Credit
Maine Legislature, Session 125, LD 0260
Committee Amendment CA_A_H219 (House)
Amends: 36 MRSA §2531, 36 MRSA §5219-B

COMMITTEE AMENDMENT "A" to H.P. 213, L.D. 260, Bill, "An Act To 
Extend the Historic Preservation Tax Credit" 
Amend the bill in section 1 in paragraph B in the first line (page 1, line 4 in L.D.) by 
striking out the following: "~2019" and inserting the following: '2013 and every 2 
years thereafter' 
Amend the bill in section 1 in paragraph B in the 8th line (page 1, line 11 in L.D.) by 
inserting after the following: "amended." the following: 'The recommendations must 
include specific proposals for funding the credit.' 
Amend the bill in section 2 in paragraph DD in subparagraph (4) in the first line 
(page 2, line 39 in L.D.) by striking out the following: "2019" and inserting the following: 
'2023' 
Amend the bill by inserting after section 2 the following: 
'Sec. 3. 36 MRSA §2531 is enacted to read: 
§2531. Credit for rehabilitation of historic properties 
A taxpayer is allowed a credit against the tax otherwise due under this chapter as 
determined under section 5219-BB.' 
Amend the bill in section 3 in paragraph C in the 3rd line (page 3, line 12 in L.D.) by 
striking out the following: "2019" and inserting the following: '2023' 
Amend the bill by adding after section 3 the following: 
'Sec. 4. 36 MRSA §5219-BB, sub-§2, as amended by PL 2009, c. 361, §28 and 
affected by §37, is further amended to read: 
2. Credit allowed. A taxpayer is allowed a credit against the tax imposed under this 
Part: 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT ,,1+, to H.P. 213, L.D. 260 
A. Equal to 25% of the taxpayer's certified qualified rehabilitation expenditures for 
which a tax credit is claimed under Section 47 of the Code for a certified historic 
structure located in the State; or 
B. Equal to 25% of the certified qualified rehabilitation expenditures of a taxpayer 
who incurs not less than $50,000 and up to $250,000 in certified qualified 
rehabilitation expenditures in the rehabilitation of a certified historic structure located 
in the State and who does not claim the federal credit with regard to those 
expenditures. The credit may be claimed for the taxable year in which the certified 
historic structure is placed in service. 
lOA taxpayer is allowed a credit under paragraph A or B but not both. A credit may not be 
claimed for expenditures incurred before January 1, 2008 or after December 31, ~ 
2023. 
Sec. 5. 36 MRSA §5219-BB, sub-§4, as enacted by PL 2007, c. 539, Pt. WW, 
§4, is amended to read: 
4. Maximum credit. The credit allowed pursuant to this section and section 2531 
may not exceed $5,000,000 for each certified rehabilitation project under Section 47 of 
the Code placed into service in the State during the taxable year for which a credit is 
claimed under this section.' 
Amend the bill by relettering or renumbering any nonconsecutive Part letter or 
section number to read consecutively. 
SUMMARY 
This amendment, which is the minority report, requires the Maine Historic 
Preservation Commission to report to the Legislature every 2 years with an analysis on 
the use of the historic preservation tax credit and recommendations for funding the credit. 
It allows insurance companies investing in historic preservation projects to receive the 
credit. It extends the credit for 10 years to 2023. 
FISCAL NOTE REQl1RED 
(See attached) 
COMMITTEE AMENDMENT 
Net Cost (Savings) 
General Fund 
Revenue 
General Fund 
Approved: 05/04111 
MaC"-
LD 260 
LR 688(02) 
An Act To Extend the Historic Preservation Tax Credit 
Fiscal Note for Bill as Amended by Committee Amendment ';4" 
Committee: Taxation 
Fiscal Note Required: Yes 
Fiscal Note 
FY 2011-12 
FY 2012-13 
$0 
$0 
Projections 
FY 2013-14 
$232,902 
Projections 
FY 2014-15 
$1,785,582 
Other Special Revenue Funds 
$0 
$0 
$0 
$0 
($232,902) 
($12,258) 
($1,785,582) 
($93,978) 
Fiscal Detail and Notes 
Extending the sunset date for the Maine Historic Preservation Tax Credit to December 31,2023 will reduce revenues 
to the General Fund and reduce revenue sharing starting in fiscal year 2013-14. Revenue reductions will increase over 
time because each credit will be taken over four years. Extending this credit to insurance companies may result in an 
additional negligible revenue loss in the next biennium because of projects being moved forward. 
Additional administrative and reporting costs to the Maine State Housing Authority and the Maine Historic 
Preservation Commission associated with extending the tax credit for 10 additional years can be absorbed within 
existing budgeted resources. 
LR0688(02) - Fiscal Note - Page 1 of 1