An Act To Improve the Educational Opportunity Tax Credit
Maine Legislature, Session 129, LD 1164
Committee Amendment CA_A_S229 (Senate)

COMMITTEE AMENDMENT " (1-" to S.P. 352, L.D. 1164, Bill, "An Act To 
Improve the Educational Opportunity Tax Credit" 
Amend the bill in section 9 in §5217-E in subsection 1 in paragraph Din the 4th line 
(page 2, line 30 in L.D.) by striking out the following: "after 2007" 
Amend the bill in section 9 in §5217-E in subsection 1 in paragraph H subparagraph 
(1) in the last line (page 3, line 15 in L.D.) by striking out the following: "after 2007'' 
Amend the bill in section 9 in §5217-E in subsection 2 in paragraph Bin the last line 
(page 4, line 18 in L.D.) by inserting after the following: "zero" the following: ', except 
that for an individual eligible to receive a refundable credit under section 5217-D for a 
tax year beginning prior to 2020, the credit under this section is refundable for tax years 
beginning before January 1. 2022' 
Amend the bill by striking out all of section 11 and inserting the following: 
'Sec. 11. Appropriations and allocations. The following appropriations and 
allocations are made. 
FINANCE AUTHORITY OF MAINE 
Educational Opportunity Tax Credit Marketing Fund Zl 74 
Initiative: Provides funds to market the Job Creation Through Educational Opportunity 
Program throughout the State. 
GENERAL FUND 
All Other 
GENERAL FUND TOTAL 
2019-20 
$75,000 
$75,000 
2020-21 
$75,000 
$75,000 
Amend the bill by relettering or renumbering any nonconsecutive Part letter or 
section number to read consecutively. 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT" /l "to S.P. 352, L.D. 1164 { , 
:;l-1 
SUMMARY 
This amendment removes the requirement that a taxpayer's degree was received after 
2007 to receive a credit for student loan repayment and provides that taxpayers who were 
eligible for a refundable credit under the credit for educational opportunity may continue 
to receive a refundable credit for tax years beginning before January 1, 2022. The 
amendment also increases from $50,000 per year to $75,000 per year the funds provided 
to market the Job Creation Through Educational Opportunity Program. 
FISCAL NOTE RijQUJRED 
(Soo Attachedj 
COMMITTEE AMENDMENT 
Approved: 06/01/19 feaC!-
LD 1164 
LR242(02) 
An Act To Improve the Educational Opportunity Tax Credit 
Fiscal Note for Bill as Amended by Committee Amendment ''ff' ls_. )8c0 
Committee: Taxation 
' ) 
Net Cost (Savings) 
General Fund 
Appropriations/ Allocations 
General Fund 
Revenue 
General Fund 
Other Special Revenue Funds 
Fiscal Detail and Notes 
Fiscal Note Required: Yes 
Fiscal Note 
FY2019-20 
FY 2020-21 
$75,000 
$48,952,500 
$75,000 
$75,000 
Projections 
FY2021-22 
$45,390,000 
$75,000 
Projections 
FY2022-23 
$30,712,500 
$75,000 
$0 
($48,877,500) 
($45,315,000) 
($30,637,500) 
$0 
($2,572,500) 
($2,385,000) 
($1,612,500) 
The bill makes several changes to the Educational Opportunity Tax Credit and would result in a reduction in General 
Fund revenue of $48,877,500 in fiscal year 2020-21 and a reduction in Local Government Fund revenue of 
$2,572,500 in fiscal year 2020-21. 
This bill includes ongoing General Fund appropriations of $75,000 per year beginning in fiscal year 2019-20 to the 
Educational Opportunity Tax Credit Marketing Fund within the Finance Authority of Maine to market the Job 
Creation Through Educational Oppo1tunity Program throughout the State. 
LR0242(02) - Fiscal Note - Page 1 of 1