This bill establishes a refundable Maine income tax credit for investment in biotechnology incubators and biomanufacturing facilities. The amount of the credit is 30% of qualified investment, taken in the form of an annual credit of 6% of the qualified investment each year for 5 years after a certificate of completion has been issued by the Commissioner of Economic and Community Development. The amount of investment in a biotechnology incubator that is eligible for a credit is capped at $15 million for each project and $30 million for all projects in total. The amount of investment in a
44 biomanufacturing facility that is eligible for a credit is capped at $15 million for each
45 project and $30 million for all projects in total. The bill also provides for situations in
46 which the facilities are no longer being primarily used for the purposes of biotechnology
47 incubation or biomanufacturing.