# Maine LD 1217: An Act Regarding the New Markets Tax Credit and the Maine New Markets Capital Investment Program Maine LD 1217, An Act Regarding the New Markets Tax Credit and the Maine New Markets Capital Investment Program, is a 132nd Maine Legislature (2025-2026) Senate bill sponsored by Harold Stewart; status signed, last action 2025-07-07 (Signed by Governor, ACTPUB Chapter 497) (as of 2026-10-19). - Canonical: https://policyrisk.com/state-bill/ME-LD1217-132 - As of: 2026-10-19 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Maine LD 1217 - State: Maine - Session: 132nd Maine Legislature (2025-2026) - Title: An Act Regarding the New Markets Tax Credit and the Maine New Markets Capital Investment Program - Status: signed - Chamber: Senate - Introduced: 2025-03-21 - Last action: 2025-07-07, Signed by Governor, ACTPUB Chapter 497 - Sponsor: Harold Stewart - Cosponsors: 2 - Subjects: INCOME TAX, INCOME TAX - CREDITS - Touches household money: no - Roll calls: 4 (173 yes, 74 no in all) - Economic provisions PRIA read: 3 ## Summary No summary available. ## Bill overview: provisions PRIA read - New caps on New Markets credits: cost, high. The law caps total state New Markets tax credit allocations at $250 million for Program 1 and $250 million for Program 2. A taxpayer cannot claim more than $20 million in any one state fiscal year during the seven-year credit period. Program 1 covers allocations before January 1, 2026; Program 2 co… - Stricter timelines and 85% in-state use: cost, medium. After an allocation notice, a qualified entity must issue the investments and receive the cash within 24 months for Program 1, or 12 months for Program 2. It must send proof of cash receipt within 10 business days. Missing the deadline makes the unused allocation lapse and return to the authority.… - Who can run Maine New Markets funds: mixed, low. An entity can qualify to run New Markets investments two ways. It can be a Maine fund with its main business in Maine for at least 60 months and must apply on the authority’s form with proof. Or it can meet the federal community development entity rules and have an allocation agreement with the U.S… ## Sponsors and cosponsors - Sponsor: Harold Stewart - Cosponsor: Bruce Bickford (Republican), Senate - Cosponsor: Ryan Fecteau (Democratic), House ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-06-25 | Senate | COMMIT | fail | 12 | 21 | | | 2025-06-25 | Senate | RECONSIDER | fail | 12 | 21 | | | 2025-06-17 | House | ACC MAJ OTP AS AMENDED REP | pass | 119 | 27 | | | 2025-06-16 | Senate | ACCEPT MAJORITY OUGHT TO PASS AS AMENDED REPORT | pass | 30 | 5 | | ## Actions (11) - 2025-07-07: Signed by Governor, ACTPUB Chapter 497 - 2025-06-25: On motion by Senator ROTUNDO of Androscoggin taken from the Special Appropriations Table Motion by Senator TIPPING of Penobscot to COMMIT Bill and accompanying papers to the Committee on Taxation FAILED Roll Call Ordered Roll Call Number 657 Yeas 12 - Nays 21 - Excused 2 - Absent 0 Subsequently, PASSED TO BE ENACTED in concurrence. Held at the Request of GROHOSKI of Hancock RELEASED. Motion by Senator STEWART of Aroostook to RECONSIDER whereby the Bill was PASSED TO BE ENACTED FAILED Roll Call Ordered Roll Call Number 659 Yeas 12 - Nays 21 - Excused 2 - Absent 0 (Senate) - 2025-06-18: On motion by Senator ROTUNDO of Androscoggin PLACED ON THE SPECIAL APPROPRIATIONS TABLE pending ENACTMENT in concurrence. (Senate) - 2025-06-18: PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH. (House) - 2025-06-17: Reports READ.On motion of Representative CLOUTIER of Lewiston, the Majority Ought to Pass as Amended Report was ACCEPTED.ROLL CALL NO. 558(Yeas 119 - Nays 27 - Absent 3 - Excused 2)The Bill was READ ONCE.Committee Amendment "A" (S-413) was READ and ADOPTED.Under suspension of the rules, the Bill was given its SECOND READING without REFERENCE to the Committee on Bills in the Second Reading.The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (S-413). In concurrence. ORDERED SENT FORTHWITH. (House) - 2025-06-16: Reports ReadOn motion by Senator GROHOSKI of Hancock the Majority Ought to Pass as Amended Report ACCEPTED. PREVAILED Roll Call Ordered Roll Call Number 583 Yeas 30 - Nays 5 - Excused 0 - Absent 0 READ ONCE Committee Amendment "A" (S-413) READ and ADOPTED Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED by Committee Amendment "A" (S-413) Sent down for concurrence (Senate) - 2025-04-01: The Bill was REFERRED to the Committee on TAXATION.In concurrence. ORDERED SENT FORTHWITH. (House) - 2025-03-27: Taken from the table by the President On motion by Senator GROHOSKI of Hancock The Bill was REFERRED to the Committee on TAXATION Ordered sent down forthwith for concurrence (Senate) - 2025-03-25: Unfinished Business (Senate) - 2025-03-21: CARRIED OVER, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519. (Senate) - 2025-03-21: Committee on TAXATION suggested and ordered printed On motion by Senator GROHOSKI of Hancock Tabled until Later in Today's Session, pending REFERENCE Unfinished Business (Senate) ## Bill text - Amendment C-A (S-413), adopted by House & Senate: [PDF](https://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0506&item=2&snum=132) - Enacted: [PDF](https://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0506&item=3&snum=132) - Introduced: [PDF](https://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0506&item=1&snum=132) ## Related bills - LD 1522: An Act to Establish the Maine Eviction Prevention Program (failed) - LD 2067: An Act to Include Community Mental Health Workers Under the 1998 Special Plan for Retirement (failed) - LD 1665: An Act to Provide Property Tax Relief to Maine Families (failed) - LD 1872: An Act to Reinvest in the Pension Funds of the Maine Public Employees Retirement System (failed) - LD 1611: An Act to Decrease the Retirement Contributions Required for Teachers and State Employees (failed) - LD 1294: An Act to Expand the Dependent Exemption Tax Credit (failed) ## Sources - [Amendment C-A (S-413), adopted by House & Senate (PDF)](https://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0506&item=2&snum=132) - [Enacted (PDF)](https://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0506&item=3&snum=132) - [Introduced (PDF)](https://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0506&item=1&snum=132) ## Related - [LD 1522: An Act to Establish the Maine Eviction Prevention Program](https://policyrisk.com/state-bill/ME-LD1522-132) - [LD 2067: An Act to Include Community Mental Health Workers Under the 1998 Special Plan f…](https://policyrisk.com/state-bill/ME-LD2067-132) - [LD 1665: An Act to Provide Property Tax Relief to Maine Families](https://policyrisk.com/state-bill/ME-LD1665-132) - [LD 1872: An Act to Reinvest in the Pension Funds of the Maine Public Employees Retiremen…](https://policyrisk.com/state-bill/ME-LD1872-132) - [LD 1611: An Act to Decrease the Retirement Contributions Required for Teachers and State…](https://policyrisk.com/state-bill/ME-LD1611-132) - [LD 1294: An Act to Expand the Dependent Exemption Tax Credit](https://policyrisk.com/state-bill/ME-LD1294-132) - [Maine bills](https://policyrisk.com/states/maine/bills) - [Maine state hub](https://policyrisk.com/states/maine) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/ME-LD1217-132 (as of 2026-10-19).