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MaineLD 146132nd Maine Legislature (2025-2026)SenateWALLET

An Act to Increase the Maximum Amount of the Historic Property Rehabilitation Tax Credit That May be Taken in a Year

Sponsored By: Peggy R. Rotundo (Democratic)

Became Law

INCOME TAXINCOME TAX - CREDITS

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Higher caps for historic rehab credit

This law changes the annual cap on Maine’s historic rehabilitation tax credit. For tax years that start before January 1, 2025, the cap is the greater of $5 million total for work placed in service that year or $5 million per qualifying building. For tax years that start on or after January 1, 2025: In your first claim year, the cap is the greater of $10 million total or $10 million per building. In your second claim year, the cap is the greater of $10 million minus what you were allowed in year 1 under each method. In your third year and later, the cap is the greater of $5 million total or $5 million per building.

Sponsors & Cosponsors

Sponsor

  • Peggy R. Rotundo

    Democratic • Senate

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

  1. ACTPUB Chapter 444

    5/1/2026

  2. On motion by Senator ROTUNDO of Androscoggin taken from the Special Appropriations Table PASSED TO BE ENACTED in concurrence.

    6/25/2025Senate

  3. On motion by Senator ROTUNDO of Androscoggin PLACED ON THE SPECIAL APPROPRIATIONS TABLE pending ENACTMENT in concurrence.

    5/21/2025Senate

  4. PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.

    5/20/2025House

  5. Reports 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.

    5/14/2025House

  6. Reports 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

    5/13/2025Senate

  7. CARRIED OVER, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.

    3/21/2025Senate

  8. The Bill was REFERRED to the Committee on TAXATION.In concurrence. ORDERED SENT FORTHWITH.

    1/14/2025House

  9. Committee on TAXATION suggested and ordered printed REFERENCE to the Committee on TAXATION Ordered sent down forthwith for concurrence

    1/14/2025Senate

Bill Text

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