An Act to Accelerate the Production of Affordable Housing and Strengthen the Historic Property Rehabilitation Tax Credit
Maine Legislature, Session 131, LD 2106
Committee Amendment CA_A_SA_A_S768 (Senate)
Amends: 36 MRSA §5219-B

SENATE AMENDMENT" A "to COMf'vfITTEE AMENDMENT. "A" to S.P. 899, 
L.D. 2106, "An Act to Accelerate the Production of Affordable Housing and Strengthen 
the Historic Property Rehabilitation Tax Credit" 
Amend the amendment by striking out everything after the substitute title and inserting 
the following: 
'Amend the bill by striking out everything after the enacting clause and inserting the 
following: 
'Sec. 1. 36 MRSA §5219-BB, sub-§4, as repealed and replaced by PL 2013, c. 
550, § 1 and affected by §2, is amended to read: 
4. Maximum credit. +he For tax years beginning before January 1, 2024, the credit 
allowed pursuant to this section and section 2534 may not exceed the greater of: 
A. Five million dollars for the portion of a certified rehabilitation as defined by the 
Code, Section 47(c)(2)(C) placed in service in the State in the taxable year; and 
B. Five million dollars for each building that is a component of a certified historic 
structure for which a credit is claimed under this section. 
Sec. 2. 36 MRSA §5219-BB, sub-§4-A is enacted to read: 
4-A. Maximum credit; beginning 2024. For tax years beginning on or after January 
1, 2024, the credit allowed pursuant to this section and section 2534: 
A. In the first year in which the credit may be claimed, may not exceed the greater of: 
(1) Ten million dollars for the portion of a certified rehabilitation as defined by 
the Code, Section 47(c)(2)(C) placed in service in the State in the taxable year; and 
(2) Ten million dollars for each building that is a component of a certified historic 
structure for which a credit is claimed under this section; 
B. In the 2nd year in which the credit may be claimed, may not exceed the greater of: 
(1) Ten million dollars minus the credit allowed under paragraph A, subparagraph 
(1) for the portion of a certified rehabilitation as defined by the Code, Section 
47(c)(2)(C) placed in service in the State in the taxable year; and 
SENATE AMENDMENT 
g, 
''f-0 
SENATE AMENDMENT "/Jr" to COMMITTEE AMENDMENT "A" to S.P. 899, L.D. 2106 { S-7UJ i) 
(2) Ten million dollars minus the credit allowed under paragraph A, subparagraph 
(2) for each building that is a component of a certified historic structure for which 
a credit is claimed under this section: and 
C. In the 3rd and subsequent years in which the credit may be claimed, may not exceed 
the greater of: 
(1) Five million dollars for the portion of a certified rehabilitation as defined by 
the Code, Section 47(c)(2)(C) placed in service in the State in the taxable year: and 
(2) Five million dollars for each building that is a component of a certified historic 
structure for which a credit is claimed under this section.'' 
Amend the amendment by relettering or renumbering any nonconsecutive Part letter or 
section number to read consecutively. 
SUMMARY 
This amendment replaces Committee Amendment "A." The amendment changes the 
maximum tax credit allowed for certified historic structure rehabilitation projects for the 
first 2 years in which a credit may be claimed. It changes the maximum from $5,000,000 
in each of the first 2 years to $10,000,000 total across the first 2 years combined. It makes 
no changes to the $5,000,000 maximum tax credit allowed in subsequent years. This 
change applies to tax years beginning on or after January 1, 2024. 
sPoNsoREn BY: ______ IA~-'-( R-v 
___ f._w--=-----~----
(Senator ROTUNDO, M.) 
COUNTY: Androscoggin 
FISCAL NOTE REQUIRED 
(See attached) 
SENATE AMENDMENT 
Net Cost (Savings) 
General Fund 
t{evenue 
General Fund 
Approved: 05/07/24 .:tPac:. 
LD 2106 
LR 2772(04) 
An Act to Strengthen the Historic Property Rehabilitation Tax Credit 
Fiscal Note for Senate Amendment '~' to Committee Amendment "A" { S,7(Q 'if) 
Sponsor: Sen. Rotundo of Androscoggin 
Fiscal Note Required: Yes 
Fiscal Note 
FY 2023-24 
FY 2024-25 
$0 
($95,000) 
Projections 
FY 2025-26 
($769,500) 
Projections 
FY 2026-27 
($2,208,750) 
Other Special Revenue Funds 
$0 
$0 
$95,000 
$5,000 
$769,500 
$40,500 
$2,208,750 
$116,250 
Fiscal Detail and Notes 
This amendment reduces the ongoing revenue loss in the bill by removing the provision that accelerated the timeline 
for claiming the historic property rehabilitation tax credit and by modifying the maximum tax credit allowed. The 
revenue loss is eliminated in fiscal year 2024-25 and is reduced substantially in subsequent fiscal years. In fiscal year 
2024-25, the General Fund revenue loss is reduced by $95,000 to $0 and the Local Government Fund revenue loss is 
reduced by $5,000 to $0. 
LR2772(04) - Fiscal Note - Page 1 of 1