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Amend the bill by striking out everything after the enacting clause and before the summary and inserting the following:
‘Sec. 1. 36 MRSA §5219-C,  as amended by PL 2007, c. 627, §90, is repealed and the following enacted in its place:
§ 5219-C.  Forest management planning income credits
 
1.  Credit allowed.     An individual is allowed a credit against the tax otherwise due under this Part for the costs incurred during the taxable year, with regard to a parcel of forest land in this State greater than 10 acres, of:
 
A.  A forest management and harvest plan developed by a licensed professional forester not in the regular employ of the individual; or
 
B.  An independent 3rd-party certification as defined in Title 12, section 8012, subsection 3 and recertification.
 
2.  Amount of credit.     The total of credits allowed an individual under this section may not exceed during any 10-year period the lesser of:
 
A.  $400; and
 
B.  The individual's cost of the forest management plan or independent 3rd-party certification or recertification.
 
3.  Limitation.     The credit allowed by this section may not reduce the tax otherwise due under this Part to less than zero.
 
4.  Procedures.     An individual claiming the credit under this section must attach a statement from the forester or certifying entity supporting the claim and swear that the aggregate credit claimed by the individual has not exceeded $400 in the previous 10 years. An individual claiming this credit who deducts the cost of the forest management and harvest plan or independent 3rd-party certification as an expense under the Code must increase federal adjusted gross income by the amount of that expense for purposes of the tax imposed by this Part.
Sec. 2. Application. This Act applies to tax years beginning on or after January 1, 2009.’
 
SUMMARY
This amendment reorganizes the language of the credit for clarity.
FISCAL NOTE REQUIRED
(See attached)