An Act to Create an Income Tax Credit for Investments in a Team's Qualified Minor League Baseball Facility to Keep the Team in the State
Maine Legislature, Session 131, LD 2258
Committee Amendment CA_A_S704 (Senate)
Amends: 36 MRSA §191

COMMITTEE AMENDMENT " /\ " to S ,P. 975, L D 2258, "An Act to Create an
Income Tax Credit for Investments in a Team's Qualified Minor League Baseball Facility
to Keep the Team in the State"
Amend the bill by striking out all of sections 1 and 2 and inserting the following:
'See. 1. 36 MRSA §191, sub-§2, ^UUU is enacted to read:
UUU. The disclosure to the joint standing; committee of the Legislature havine
jurisdiction over taxation matters pursuant to section 5219-BBB, subsection 4.
paraeraoh C of the revenue loss. includine the loss due to refundable credits.
attributable to each taxpayer claiming the tax credit for investment in qualified
professional baseball facilities in the State provided under section 5219-BBB.'
Amend the bill in section 3 in §5219-BBB in subsection 1 by striking out all of
paragraph E (page 2, lines 1 to 6 in L.D.) and inserting the following:
'E. "Qualified investment" means an expenditure made directly by a qualified apulicant
between October 1. 2023 and November 30, 2026 of at^^^
permit, construct, modify, equip or expand a qualified professional baseball facility.
The expenditures of a qualified applicant and other entities, whether or not
incorporated, that are part of a single business enterprise must be aeereeated to
detemine whether a qualified investmenthasbQQnm&dG^
Amend the bill in section 3 in §5219-BBB in subsection 2 in paragraph A in the last
line (page 2, line 18 in L.D.) by inserting after the following: "or" the following: 'the
minimum waee required by the municipality, whichever is'
Amend the bill in section 3 in §5219-BBB in subsection 2 in paragraph C in the last
line (page 2, line 30 in L.D.) by inserting after the following: "applicant," the following: 'A
2 certified applicant and other entities, whether or not incorporated, that are part of a single
business enterprise may receive only one certificate of completion pursuant to this
subsection.'
COMMITTEE AMENDMENT
COMMITTEE AMENDMENT " ^ " to S.P. 975, L.D. 2258 {5'"
Amend the bill in section 3 in §5219-BBB by striking out all of subsection 3 (page 3,
2,2 lines 8 to 12 in L.D.) and inserting the following:
'3. Refundable tax credit allowed. Beginning with the tax year during which a
certificate of completion is issued under subsection 2, paragraph C but not before a tax year
beginning in 2025, and for each of the following 14 tax years, a certified applicant is
allowed a credit against the tax otherwise due under this Part for the taxable year in an
amount eoual to 1.33 % of the certified aDBljcant's qualified investment. A credit under this
section for a certified applicant may not exceed $133.000 per year and $1,995.000 in
cumulative total. The credit allowed under this section is refundable.'
Amend the bill in section 3 in §5219-BBB in subsection 4 in paragraph C in the 4th
line (page 3, line 42 in L.D.) by striking out the following: "certified applicant" and
inserting the following: 'taxpayer'
Amend the bill in section 3 in §5219-BBB by striking out all of subsection 5 (page 4,
lines 6 to 14 in L.D.) and inserting the following:
'5. Recapture. If the qualified investment forming the basis of the credit is not used
as a qualified professional baseball facility by the certified applicant or a transferee
aeproved pursuant to subsection 2. paragraph D, the following Droyisions apply.
A, Durins the first 60 months following the receipt of the certificate ofcompietion, if
the certified applicant or transferee fails to use the qualified investment forming the
basis of the credit as a qualify professional baseball facility for the entire 60-month
period, the credit allowed under this section must be fully recaptured to the extent
claimed bvJheJaxBaYer,TheCT^ be recaptured by adding to the tax imposed
on the_certified applicant or transferee for the taxable year in which the_gualified
investment is no longer used as a qualified professional baseball facility by the certified
5 applicant or transferee an amount equal to the total amount of credit authorized minus
the amount of credit not vet taken.
B, If the qualified investment forming the basis of the credit is not used as a qualified
professional baseball facility by the certified applicant or a transferee following the
first 60 months following the receipt of the certificate of completion. the certified
applicant or transferee is not eligible for the credit for that tax year and the certified
apDlicant or transferee is not eligible for the credit for any tax yearJhereafter that the
2 certified applicant or transferee fails to use the qualified investment as a Qualified
professional baseball facility,'
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section
number to read consecutively.
SUMMARY
7 This amendment changes the maximum amount of the investment credit in the bill from
$100,000 per year and $1,000,000 in total to $133,000 per year and $1,995,000 in total;
limits the number of years over which the credit may be claimed to 15 years; and changes
the calculation of the credit from 10% to 1.33% per year of the qualified investment. The
amendment requires that during the first 60 months following the investment, if the
taxpayer fails to continue operations as a professional baseball facility, the applicant
forfeits the entire credit taken. After the first 60 months, if the taxpayer fails to continue
Page2-131LR2856(02)
COMMITTEE AMENDMENT
COMMITTEE AMENDMENT "/) " to S.P. 975, L.D. 2258 ( ^ ")b ^
operations as a professional baseball facility during any year, the applicant is ineligible for
any future credit until the taxpayer continues operations as a professional baseball facility.
The amendment adds a provision authorizing the disclosure to the joint standing committee
of the Legislature having jurisdiction over taxation matters of certain information relating
to taxpayers claiming the credit and removes provisions in the bill providing income tax
modifications for certain taxpayers receiving the investment credit. The amendment also
clarifies provisions relating to administration of the investment credit.
FISCAL NOTE REQUIRED
(See attached)
COMMITTEE AMENDMENT
Approved: 04/02/24 ^VWZC'-
LD 2258 LR 2856(02)
An Act to Create an Income Tax Credit for Investments in a Team's Qualified Minor League Baseball
Facility to Keep the Team in the State
Fiscal Note for Bill as Amended by Committee Amendment
Committee: Taxation
Fiscal Note Required: Yes
"^--1^
Fiscal Note
Projections Projections
FY 2023-24 FY 2024-25 FY 2025-26 FY 2026-27
Net Cost (Savings)
General Fund
Appropriations/Allocations
General Fund
Revenue
General Fund
Other Special Revenue Funds
$0
$0
$0
$0
$0
$0
$0
$0
$159,350
$33,000
($126,350)
($6,650)
$126,350
.$0.
($126,350)
($6,650)
Fiscal Detail and Notes
Providing an income tax credit for qualified investment in a qualified professional baseball facility in the State
beginning in tax year 2025 will decrease General Fund revenue by $126,350 and decrease Local Government Fund
revenue by $6,650 beginning in fiscal year 2025-26. The Department of Administrative and Financial Services,
Bureau of Revenue Services will require a one-time General Fund appropriation of $33,000 in fiscal year 2025-26 for
computer programming costs associated with the new credit.
Additional costs to the Department of Economic and Community Development associated with the certification of. -';
qualified applicants can be absorbed within existing budgeted resources,
LR2856(02) - Fiscal Note - Page 1 of 1