Maine Revised Statutes Title 5 Sec. 1515 – Corporate Income Tax Investment Credit Fund
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1. Corporate Income Tax Investment Credit Fund. There is established a Corporate Income Tax Investment Credit Fund for the purpose of reserving the money appropriated to it awaiting transfer to fund a one-time tax credit for corporate investments in new, used or leased tangible personal property which is placed in service in Maine during the 1989 calendar year and is directly related to the production of goods and services.
[PL 1987, c. 876, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 5 Sec. 1515
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Personal property: All property that is not real property.
- Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
2. Enactment of credit. The joint standing committee of the Legislature having jurisdiction over taxation shall develop the specific provisions of the tax credit. The committee shall report its findings and any recommended legislation to the First Regular Session of the 114th Legislature. This program shall be finalized by April 30, 1989.
[PL 1987, c. 876, §2 (NEW).]
3. Carry-forward.
[PL 1989, c. 501, Pt. P, §10 (NEW); PL 1989, c. 530, §1 (NEW); PL 1989, c. 702, Pt. E, §2 (RP).]
SECTION HISTORY
PL 1987, c. 876, §2 (NEW). PL 1989, c. 501, §P10 (AMD). PL 1989, c. 530, §1 (AMD). PL 1989, c. 702, §E2 (AMD).