Maine LD 297: An Act To Increase Allowed Investments under the Maine New Markets Capital Investment Program

LD 297 (subjects: FINANCE AUTHORITY , PROGRAMS )

Official bill page at mainelegislature.org: http://www.mainelegislature.org/legis/bills/display_ps.asp?ld=297&PID=1456&snum=127


Sponsors | Actions | Bill Text | Patterns of Support | In The News


Sponsors

Principal Sponsor: Sen. Nathan Libby of Androscoggin: (D – District 21) — e-mail | Twitter | Facebook

7 Cosponsors:

Actions

Chamber

Action
2/10/2015 Senate Committee on LABOR, COMMERCE, RESEARCH AND ECONOMIC DEVELOPMENT
suggested and ordered printed
On motion by Senator Volk of Cumberland REFERRED to the Committee on LABOR, COMMERCE, RESEARCH AND ECONOMIC DEVELOPMENT
Ordered sent down forthwith for concurrence.
2/10/2015 House Bill REFERRED to the Committee on LABOR, COMMERCE, RESEARCH AND ECONOMIC DEVELOPMENT.
In concurrence. ORDERED SENT FORTHWITH.
6/18/2015 Senate Reports READ
On motion by Senator VOLK of Cumberland Tabled until Later in Today’s Session, pending ACCEPTANCE OF EITHER REPORT
Unfinished Business
6/19/2015 Senate Taken from the table by the President ProTem
On motion by Senator LIBBY of Androscoggin Bill and accompanying papers COMMITTED to the Committee on Taxation
Ordered sent down forthwith for concurrence.
6/22/2015 House Reports READ.
On motion of Representative HERBIG of Belfast TABLED pending ACCEPTANCE of Either Report.

Later today assigned.
6/22/2015 House Speaker laid before the House
On motion of Representative HERBIG of Belfast, the Majority Ought to Pass as Amended Report was ACCEPTED.
The Bill was READ ONCE.
Committee Amendment “A” (S-294) was READ and ADOPTED.
Representative HERBIG of Belfast MOVED to TABLE until later in today’s session.
Representative HERBIG of Belfast WITHDREW her motion to TABLE until later in today’s session.
Under suspension of the rules, the Bill was given its SECOND READING without REFERENCE to the Committee on Bills in the Second Reading.
The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment “A” (S-294).
ROLL CALL NO. 336
(Yeas 100 – Nays 43 – Absent 8 – Excused 0)
In NON-CONCURRENCE and sent for concurrence.
ORDERED SENT FORTHWITH.
6/23/2015 Senate Senator MASON of Androscoggin moved the Senate Insist on Bill and accompanying papers COMMITTED to the Committee on Taxation In NON-CONCURRENCE
motion by Senator ALFOND of Cumberland The Senate RECEDE and CONCUR With ACCEPTANCE of the Majority OUGHT TO PASS AS AMENDED Report AND PASSAGE TO BE ENGROSSED AS AMENDED BY Committee Amendment “A” (S-294) FAILED
Roll Call Ordered Roll Call # 332 15 Yeas – 19 Nays- 1 Excused – 0 Absent
Subsequently, On motion by Senator MASON of Androscoggin The Senate INSISTED To Bill and accompanying papers COMMITTED to the Committee on Taxation , in NON-CONCURRENCE.
Ordered sent down forthwith for concurrence.
6/23/2015 House The House INSISTED on ACCEPTANCE of the Majority Ought to Pass as Amended Report and PASSAGE TO BE ENGROSSED as Amended by Committee Amendment “A” (S-294).
ORDERED SENT FORTHWITH.
Placed in the Legislative Files. (DEAD)

Bill Text

.

An Act To Increase Allowed Investments under the Maine New Markets Capital Investment Program

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 10 MRSA 1100-Z, sub- 3, H, as enacted by PL 2011, c. 380, Pt. Q, 1 and affected by 7, is amended to read:

H. On the date designated by the authority, the authority shall begin accepting applications for the full $250,000,000 amount of qualified equity investments under subsection 4. An applicant may not be awarded more than 25% of the total tax credit authority available.

Sec. 2. 10 MRSA 1100-Z, sub- 4, as amended by PL 2011, c. 548, 5, is further amended to read:

4. Limit on amount of tax credits authorized. The maximum aggregate amount of qualified equity investments for which the authority may issue tax credit authority under this section is $250,000,000 $500,000,000; a tax credit claim may not exceed $20,000,000 in any one state fiscal year over the 7 years of the tax credit allowance dates as described in Title 36, section 5219-HH, subsection 1, paragraph A.

summary

This bill increases the maximum aggregate amount of qualified equity investments for which the Finance Authority of Maine may issue tax credit authority under the Maine New Markets Capital Investment Program from $250,000,000 to $500,000,000.

Patterns of Support

Pattern of Cosponsorship by Region:

Pattern of Cosponsorship by Gender:

Pattern of Cosponsorship by Party:

Pattern of Cosponsorship by Campaign Finance Classification:

Note: Maine Clean Elections Act (MCEA) Qualified candidates only accept a small dollar value of initial contributions early in their campaigns, pledge not to accept further campaign contributions from private sources, and receive public funding for their campaigns. MCEA Non-Qualified candidates choose not to obtain public funding and instead are free to accept campaign contributions from individuals, party committees, political action committees and business sources.


In The News…

Recent news stories featuring LD 297:


This information about LD 297 was last updated on 2016-05-12.
The Open Maine Politics website is in a beta release and results should not be taken as definitive. Please visit the official website of the Maine State Legislature for entirely verifiable information.

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