Taxation committee tables Educational Opportunity Tax Credit bill to allow further work

On Tuesday, May 4, the Taxation committee voted unanimously to table LD 798, An Act to Improve the Educational Opportunity Tax Credit, sponsored by Sen. Matthew Pouliot (R-Kennebec). The committee pledged to work to meld parts of four other bills into this one, in an attempt to simplify the credit. The committee voted “ought not to pass” on four other bills dealing with the Maine Educational Opportunity Tax Credit:

• LD 973, An Act Regarding the Educational Opportunity Tax Credit, sponsored by Rep. Barbara Wood of Portland;
  
• LD 977, An Act Regarding the Maine Educational Opportunity Tax Credit, sponsored by Rep. Allison Heppler of Woolwich;
  
• LD 1410, An Act to Incentivize the Development of the Labor Force in the Green Jobs Sector Through Assistance in Repaying Student Loan Debt, sponsored by Sen. Stacy Brenner of Cumberland; and,
  
• LD 1458, An Act to Expand Incentives to Live and Work in Maine Through a Partial Tax Credit for Certain Student Loans, sponsored by Rep. Christopher Babbidge of Kennebunk.
  

The committee asked interested parties such as the Maine Department of Economic and Community Development, Maine Revenue Services, all of the bills’ sponsors to work to develop an unanimous amendment to LD 798, with the intent of making the credit easier to understand and to simplify it.  

If you have any questions, please contact Linda Caprara by calling (207) 458-2133 or (207) 623-4568, ext. 106, or by emailing lcaprara@mainechamber.org.