This bill creates the Dirigo business incentives program to provide a tax credit to qualified businesses. The bill provides an exemption from the requirement for confidentiality of tax records for information disclosed as part of certain reports to the Department of Economic and Community Development and legislative committees regarding the Dirigo business incentives program. The bill extends the end date of the Pine Tree Development Zone program by one year, eliminates the Pine Tree Recreation Zone program and eliminates the Maine capital investment credit as of January 1, 2025. The bill prohibits issuing a certificate of approval for employment tax increment financing after December 31, 2024 and eliminates the employment tax increment financing benefits as of December 31, 2034.

Statutes affected:
Bill Text LD 1918, SP 780: 30-A.5250, 35-A.3210, 36.1760, 36.2016, 36.2529, 36.5219, 36.6754