KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Maine

LD146 • 2025

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

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

Taxes
Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Senator Margaret Rotundo
Last action
2025-07-01
Official status
Signed by the Governor
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

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

An Act to Increase the Maximum Amount of the Historic Property Rehabilitation Tax Credit That May be Taken in a Year Sponsor: Senator Margaret Rotundo Reference committee: Taxation Governor action: Signed by the Governor

What This Bill Does

  • An Act to Increase the Maximum Amount of the Historic Property Rehabilitation Tax Credit That May be Taken in a Year Sponsor: Senator Margaret Rotundo Reference committee: Taxation Governor action: Signed by the Governor

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

Adopted by House & Senate

Plain English: Page 1 - 132LR0525(02) COMMITTEE AMENDMENT 1 L.D.

  • Page 1 - 132LR0525(02) COMMITTEE AMENDMENT 1 L.D.
  • 146 2 Date: (Filing No.
  • S- ) 3TAXATION 4 Reproduced and distributed under the direction of the Secretary of the Senate.
  • 5STATE OF MAINE 6SENATE 7132ND LEGISLATURE 8FIRST SPECIAL SESSION 9 COMMITTEE AMENDMENT “ ” to S.P.

Bill History

  1. 2025-07-01 Governor

    Signed by the Governor

  2. 2025-06-25 Senate

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

  3. 2025-05-20 House

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

  4. 2025-05-12 Committee

    Reported Out; OTP-AM/ONTP

  5. 2025-03-19 Committee

    Work Session Held

  6. 2025-03-19 Committee

    Voted; Divided Report

  7. 2025-01-14 Committee

    Referred to Committee on Taxation.

Official Summary Text

An Act to Increase the Maximum Amount of the Historic Property Rehabilitation Tax Credit That May be Taken in a Year
Sponsor:
Senator Margaret Rotundo
Reference committee:
Taxation
Governor action:
Signed by the Governor

Current Bill Text

Read the full stored bill text 
Page 1 - 132LR0525(03)
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FIVE
_____
S.P. 82 - L.D. 146
An Act to Increase the Maximum Amount of the Historic Property
Rehabilitation Tax Credit That May be Taken in a Year
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §5219-BB, sub-§4, as repealed and replaced by PL 2013, c. 550,
§1 and affected by §2, is amended to read:
4. Maximum credit. The For tax years beginning before January 1, 2025, the credit
allowed pursuant to this section and section 2534 may not exceed the greater of:
A. Five million dollars for the portion of a certified rehabilitation as defined by the
Code, Section 47(c)(2)(C) placed in service in the State in the taxable year; and
B. Five million dollars for each building that is a component of a certified historic
structure for which a credit is claimed under this section.
Sec. 2. 36 MRSA §5219-BB, sub-§4-A is enacted to read:
4-A. Maximum credit; beginning 2025. For tax years beginning on or after January
1, 2025, the credit allowed pursuant to this section and section 2534:
A. In the first year in which the credit may be claimed, may not exceed the greater of:
(1) Ten million dollars for the portion of a certified rehabilitation as defined by
the Code, Section 47(c)(2)(C) placed in service in the State in the taxable year; and
(2) Ten million dollars for each building that is a component of a certified historic
structure for which a credit is claimed under this section;
B. In the 2nd year in which the credit may be claimed, may not exceed the greater of:
(1) Ten million dollars minus the credit allowed under paragraph A, subparagraph
(1) for the portion of a certified rehabilitation as defined by the Code, Section
47(c)(2)(C) placed in service in the State in the taxable year; and
(2) Ten million dollars minus the credit allowed under paragraph A, subparagraph
(2) for each building that is a component of a certified historic structure for which
a credit is claimed under this section; and
APPROVED
JULY 1, 2025
BY GOVERNOR
CHAPTER
444
PUBLIC LAW
Page 2 - 132LR0525(03)
C. In the 3rd and subsequent years in which the credit may be claimed, may not exceed
the greater of:
(1) Five million dollars for the portion of a certified rehabilitation as defined by
the Code, Section 47(c)(2)(C) placed in service in the State in the taxable year; and
(2) Five million dollars for each building that is a component of a certified historic
structure for which a credit is claimed under this section.