An Act To Provide An Income Tax Credit For Certain Disaster Mitigation Projects For Working Waterfront Property

Summary

The bill would give Maine taxpayers a credit equal to 30% of the cost of approved disaster‑mitigation projects on working waterfront property, up to $300,000 per year. It applies only to businesses whose average annual gross receipts are under $47 million and to projects that meet specific building‑code and design standards. The credit can be carried forward for up to ten years but cannot be combined with other similar credits.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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