An Act To Allow For The Transferability Of The Biofuel Production And Renewable Chemicals Tax Credits

Summary

The bill lets a taxpayer who has received a certification for a biofuel production or renewable chemicals tax credit, but has not yet claimed it, transfer the credit—whole or in part—to another individual or entity. The new holder can apply the credit to their Maine income‑tax return under the same rules that apply to the original producer. The measure failed to pass and died in the Senate.

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