An Act To Clarify the Maine New Markets Capital Investment Program Tax Credit
Maine Legislature, Session 126, LD 1109
Committee: Taxation
Sponsors: STANLEY, THOMAS, GIFFORD, GOODE, TURNER, HASKELL, JACKSON, SHERMAN
Amends: 36 MRSA §5219-H

Legislative Document 
No. 1109 
H.P. 778 
House of Representatives, March 19, 2013 
An Act To Clarify the Maine New Markets Capital Investment 
Program Tax Credit 
(EMERGENCY) 
Reference to the Committee on Taxation suggested and ordered printed. 
MILLICENT M. MacFARLAND 
Clerk 
Presented by Representative STANLEY of Medway. 
Cosponsored by Senator THOMAS of Somerset and 
Representatives: GIFFORD of Lincoln, GOODE of Bangor, TURNER of Burlington, Senators: 
HASKELL of Cumberland, JACKSON of Aroostook, SHERMAN of Aroostook. 
Emergency preamble. Whereas, acts and resolves of the Legislature do not 
become effective until 90 days after adjournment unless enacted as emergencies; and 
Whereas, the 125th Legislature enacted the Maine New Markets Capital Investment 
Program to stimulate capital investment in distressed areas of the State; and 
Whereas, investors seeking to make investments under the Maine New Markets 
Capital Investment Program require a high degree of clarity regarding the conditions on 
which tax credits may be available; and 
Whereas, there are interested investors unwilling to make investments that will 
support construction of manufacturing facilities and the creation or retention of jobs due 
to the ambiguity of certain terms used in the Maine New Markets Capital Investment 
Program; and 
Whereas, it is imperative that this legislation take effect immediately to allow for 
investments to be made in the spring of 2013; and 
Whereas, in the judgment of the Legislature, these facts create an emergency within 
the meaning of the Constitution of Maine and require the following legislation as 
immediately necessary for the preservation of the public peace, health and safety; now, 
therefore, 
Be it enacted by the People of the State of Maine as follows: 
Sec. 1.  36 MRSA §5219-HH, sub-§1, ¶J, as amended by PL 2011, c. 657, Pt. P, 
§1, is further amended to read: 
J.  "Qualified low-income community investment" means any capital or equity 
investment in, or loan to, any qualified active low-income community business made 
after September 28, 2011.  Except as otherwise provided in this paragraph, with 
respect to any one qualified active low-income community business, the maximum 
amount of qualified low-income community investments that may be made in the 
business, on a collective basis with all of its affiliates, with the proceeds of qualified 
equity investments that have been certified under Title 10, section 1100-Z, subsection 
3, paragraph G is $10,000,000 whether made by one or several qualified community 
development entities.  With respect to investments in a qualified active low-income 
community business that is a manufacturing or value-added production enterprise that 
projects to create or retain more than 200 jobs, the limit on the qualified low-income 
community investment is $40,000,000 per project constructed, maintained or 
operated by the qualified active low-income community business.  For the purposes 
of this paragraph, "project" means a manufacturing or value-added production 
enterprise facility, including the land, buildings, structures, machinery and equipment 
functionally related to and integrated with the manufacturing or production process 
conducted at that facility.   
Emergency clause.  In view of the emergency cited in the preamble, this 
legislation takes effect when approved. 
SUMMARY 
This bill amends the laws governing the Maine New Markets Capital Investment 
Program tax credit to clarify that the limitation on the amount of investment that may be 
made with respect to certain qualified active low-income community businesses is 
$40,000,000 per project constructed, maintained or operated.