An Act to Increase the Maximum Amount of the Historic Property Rehabilitation Tax Credit That May be Taken in a Year
Sponsored By: Margaret Rotundo
Signed by Governor
Personalized for You
How does this bill affect your finances?
Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Higher yearly cap for historic rehab credit
The law raises yearly limits on Maine’s historic rehabilitation tax credits. These caps apply to the combined amount you claim under the two state historic rehab credits. For tax years starting before Jan 1, 2025, the yearly limit is the greater of $5 million for work placed in service that year, or $5 million per building in a certified historic structure. For tax years starting on or after Jan 1, 2025, your first claim year limit is the greater of $10 million for work placed in service that year, or $10 million per building. In the second claim year, your cap is $10 million minus what you claimed in year one under the same test. In the third and later claim years, the cap is the greater of $5 million for work placed in service that year, or $5 million per building.
Sponsors & Cosponsors
Sponsor
Margaret Rotundo
Affiliation unavailable
Cosponsors
Ambureen Rana
Democratic • House
Drew Gattine
Democratic • House
Matthea E. L. Daughtry
Democratic • Senate
Richard A. Bennett
Independent • Senate
Ryan Fecteau
Democratic • House
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Signed by Governor, ACTPUB Chapter 444
7/1/2025On motion by Senator ROTUNDO of Androscoggin taken from the Special Appropriations Table PASSED TO BE ENACTED in concurrence.
6/25/2025SenateOn motion by Senator ROTUNDO of Androscoggin PLACED ON THE SPECIAL APPROPRIATIONS TABLE pending ENACTMENT in concurrence.
5/21/2025SenatePASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.
5/20/2025HouseReports READ.On motion of Representative CLOUTIER of Lewiston, the Majority Ought to Pass as Amended Report was ACCEPTED.The Bill was READ ONCE.Committee Amendment "A" (S-76) 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-76). In concurrence. ORDERED SENT FORTHWITH.
5/14/2025HouseReports READ On motion by Senator GROHOSKI of Hancock The Majority Ought to Pass As Amended by Committee Amendment "A" (S-76) Report ACCEPTED Bill READ ONCE Committee Amendment "A" (S-76) READ and ADOPTED Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED by Committee Amendment "A" (S-76) Sent down forthwith for concurrence
5/13/2025SenateCARRIED OVER, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.
3/21/2025SenateThe Bill was REFERRED to the Committee on TAXATION.In concurrence. ORDERED SENT FORTHWITH.
1/14/2025HouseCommittee on TAXATION suggested and ordered printed REFERENCE to the Committee on TAXATION Ordered sent down forthwith for concurrence
1/14/2025Senate
Bill Text
Amendment C-A (S-76), adopted by House & Senate
Enacted
Introduced
Related Bills
LD 1522, An Act to Establish the Maine Eviction Prevention Program
LD 1665, An Act to Provide Property Tax Relief to Maine Families
LD 1872, An Act to Reinvest in the Pension Funds of the Maine Public Employees Retirement System
LD 2067, An Act to Include Community Mental Health Workers Under the 1998 Special Plan for Retirement
LD 1611, An Act to Decrease the Retirement Contributions Required for Teachers and State Employees
LD 1294, An Act to Expand the Dependent Exemption Tax Credit