An Act To Clarify and Update the Maine Seed Capital Tax Credit Program
Maine Legislature, Session 130, LD 1941
Committee Amendment CA_A_S430 (Senate)
Committee: Taxation

COMMITTEE AMENDMENT" B "to S.P. 682, L.D. 1941, "An Act To Clarify and 
Update the Maine Seed Capital Tax Credit Program" 
Amend the bill by striking out the title and substituting the following: 
'Resolve, Establishing the Working Group To Review and Recommend 
Improvements to the Seed Capital Investment Tax Credit' 
Amend the bill by striking out everything after the title and inserting the following: 
'Sec.1. Working Group To Review and Recommend Improvements to the 
Seed Capital Investment Tax Credit established. Resolved: That the Working 
Group To Review and Recommend Improvements to the Seed Capital Investment Tax 
Credit, referred to in this resolve as "the working group," is established. 
Sec. 2. Membership. Resolved: That the working group consists of 9 members 
appointed as follows: 
1. Three members of the Senate appointed by the President of the Senate, including 2 
members from the party holding the largest number of seats in the Legislature and one 
member who is not from the party holding the largest number of seats in the Legislature. 
Of these 3 members, one member must be a member of the Government Oversight 
Committee, one member must be a member of the Joint Standing Committee on Innovation, 
Development, Economic Advancement and Business and one member must be a member 
of the Joint Standing Committee on Taxation; and 
2. Six members of the House of Representatives appointed by the Speaker of the 
House, including 3 members from the party holding the largest number of seats in the 
Legislature and 3 members who are not from the party holding the largest number of seats 
in the Legislature. Of these 6 members, 2 members must be members of the Government 
Oversight Committee, 2 members must be members of the Joint Standing Committee on 
Innovation, Development, Economic Advancement and Business and 2 members must be 
members of the Joint Standing Committee on Taxation. 
Page I - 130LR2143(02) 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT" (i "to S.P. 682, L.D. 1941 [ ":;- L{.70') 
Sec. 3. Working group chairs. Resolved: That the first-named Senate member 
is the Senate chair of the working group and the first-named member of the House is the 
House chair of the working group. 
Sec. 4. Appointments; convening of working group. Resolved: That all 
appointments must be made no later than 30 days following the effective date of this 
resolve. The appointing authorities shall notify the Executive Director of the Legislative 
Council once all appointments have been made. When the appointment of all members has 
been completed, the chairs of the working group shall call and convene the first meeting of 
the working group. If 30 days or more after the effective date of this resolve a majority of 
but not all appointments have been made, the chairs may request authority and the 
Legislative Council may grant authority for the working group to meet and conduct its 
business. 
Sec. 5. Duties. Resolved: That the working group shali examine and make 
recommendations regarding the need for legislation to clarify and update the seed capital 
investment tax credit. In its work, the working group shall consider: 
1. The provisions of the Maine Revised Statutes, Title 10, section 1100-T and Title 
36, section 5216-B governing the seed capital investment tax credit; 
2. The August 2021 report of the Office of Program Evaluation and Government 
Accountability titled "Evaluation of the Maine Seed Capital Tax Credit" including the 
recommendations made in that report; and 
3. 
Input from taxpayers claiming the seed capital investment tax credit and 
stakeholders engaged in the administration of the credit, including but not limited to the 
Department of Administrative and Financial Services, Bureau of Revenue Services, the 
Department of Economic and Community Development, the Finance Authority of Maine 
and other state agencies. 
The working group shall make recommendations, including any appropriate changes 
to the Maine Revised Statutes, for improvements to the seed capital investment tax credit 
to ensure it meets the purposes and goals of the Legislature and contains provisions 
necessary for the appropriate evaluation of the credit under the Maine Revised Statutes, 
Title 3, chapter 37. 
Sec. 6. Staff assistance. Resolved: That the Legislative Council shall provide 
necessary staffing services to the working group, except that the Legislative Council staff 
support is not authorized when the Legislature is in regular or special session. The 
Department of Administrative and Financial Services, Bureau of Revenue Services, the 
Department of Economic and Community Development and the Finance Authority of 
Maine shall provide to the working group any nonconfidential information requested by 
7 
the working group regarding the seed capital investment tax credit. 
Sec. 7. Report. Resolved: That, no later than November 2, 2022, the working 
group shall submit a report that includes its findings and recommendations, including 
suggested legislation, to the First Regular Session of the 131st Legislature.' 
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section 
number to read consecutively. 
COMMITTEE AMENDMENT 
COMMITTEEAMENDMENT"0 "toS.P.682,L.D.1941 L~-t\:P) 
SUMMARY 
This amendment replaces the bill with a resolve establishing the Working Group To 
Review and Recommend Improvements to the Seed Capital Investment Tax Credit. The 
working group is directed to make recommendations, including any appropriate changes to 
the Maine Revised Statutes, for improvements to the seed capital investment tax credit to 
ensure it meets the purposes and goals of the Legislature and contains provisions necessary 
for the appropriate evaluation of the credit under the Maine Revised Statutes, Title 3, 
chapter 3 7. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 02/24/22 ::tPae 
LD 1941 
LR 2143(02) 
An Act To Clarify and Update the Maine Seed Capital Tax Credit Program 
Fiscal Note for Bill as Amended by Committee Amendment "4,' ( s- Ll?:J 2) 
Committee: Taxation 
Fiscal Note Required: Yes 
Fiscal Note 
Legislative Cost/Study 
Legislative Cost/Study 
The general operating expenses of this study are projected to be $4,750 in fiscal year 2022-23. The Legislature's 
budget for the 2022-2023 biennium includes an estimated $6,108 in fiscal year 2021-22 and $10,000 in fiscal year 
2022-23 for the costs oflegislative studies, as well as $31,260 of balances carried over from prior years for this 
purpose. Whether these amounts are sufficient to fund all studies will depend on the number of studies authorized by 
the Legislative Council and the Legislature. The additional costs of providing staffing assistance to the study during 
the interim can be absorbed utilizing existing budgeted staff resources. 
Fiscal Detail and Notes 
Additional costs to the Department of Economic and Community Development, the Department of Administrative and 
Financial Services and the Finance Authority of Maine to provide information requested by the working group can be 
absorbed within each agency's existing budgeted resources. 
LR2143(02) - Fiscal Note - Page 1 of 1