Taxation committee tables the bill to increase the research and expense tax credit until OPEGA report is released
On Thursday, February 24, the Joint Standing Committee on Taxation voted to table LD 308, An Act to Promote Research and Development in the State by Increasing and Marketing the Research Expense Tax Credit, sponsored by Sen. Trey Stewart (R-Aroostook). The committee tabled the bill until the Office of Program Evaluation and Government Accountability (OPEGA) releases the tax expenditure report on the Research and Development Tax Credit and presents it to the Government Oversight Committee meeting on Friday, March 11.
A few weeks ago, the Environment and Natural Resources (ENR) committee moved forward with an “ought to pass as amended” vote on LD 1911, An Act To Prevent the Further Contamination of the Soils and Waters of the State with So-called Forever Chemicals. This bill was first introduced by Rep. Bill Pluecker (I-Warren), but an amendment was introduced by Sen. Stacey Brenner (D-Cumberland), which made major changes and replaced the bill.
The Joint Standing Committee on Taxation voted to table LD 428, An Act to Prevent Tax Haven Abuse, at the request of the bill’s sponsor, Rep. Denise Teppler (D-Topsham). Rep. Teppler addressed the committee, asking for a week or so delay in working the bill until she finalizes the amendment with “interested parties.”
Contact your legislator today and urge them to reject LD 1129, An Act Relating to the Valuation of Improved Real Property