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Amend the bill by striking out all of section 4 and inserting the following:
‘Sec. 4.  36 MRSA §5122, sub-§1, ¶II  is enacted to read:
 
II. For taxable years beginning in 2014, an amount equal to the net increase in depreciation attributable to the depreciation deduction claimed by the taxpayer under the Code, Section 168(k) with respect to property placed in service during the taxable year.’
Amend the bill in section 7 in paragraph NN in the 6th line (page 3, line 4 in L.D.) by striking out the following: ", subparagraph (2)"
Amend the bill in section 7 in paragraph NN in the 11th and 12th lines (page 3, lines 9 and 10 in L.D.) by striking out the following: ", subparagraph (2)"
Amend the bill in section 7 in paragraph NN in the last 2 lines (page 3, lines 13 and 14 in L.D.) by striking out the following: ", subparagraph (2)"
Amend the bill by striking out all of section 10 and inserting the following:
‘Sec. 10.  36 MRSA §5200-A, sub-§1, ¶BB  is enacted to read:
 
BB. For taxable years beginning in 2014, an amount equal to the net increase in depreciation attributable to the depreciation deduction claimed by the taxpayer under the Code, Section 168(k) with respect to property placed in service during the taxable year.’
Amend the bill in section 13 in paragraph Z in the 6th line (page 4, line 29 in L.D) by striking out the following: ", subparagraph (2)"
Amend the bill in section 13 in paragraph Z in the 11th line (page 4, line 34 in L.D) by striking out the following: ", subparagraph (2)"
Amend the bill in section 13 in paragraph Z in the last 2 lines (page 4, lines 37 and 38 in L.D) by striking out the following: ", subparagraph (2)"
Amend the bill by striking out all of section 14 and inserting the following:
‘Sec. 14. One-time 30% increase in property tax fairness credit. The State Tax Assessor shall increase by 30% the property tax fairness credit allowed an individual under the Maine Revised Statutes, Title 36, section 5219-KK, subsection 2. This credit is only available for taxpayers filing for the property tax fairness credit for the tax year beginning in 2014. If an individual has filed a tax return and been given the property tax fairness credit for the tax years beginning in 2014 prior to the effective date of this section, the State Tax Assessor shall determine the amount of the credit due that taxpayer and certify it to the Treasurer of State, who shall forward the increased credit amount to that taxpayer.’
Amend the bill by adding after section 15 the following:
‘Sec. 16. Appropriations and allocations. The following appropriations and allocations are made.
 
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
 
Revenue Services, Bureau of 0002
 
Initiative: Provides one-time funding for computer programming, check printing and mailing costs related to changes to accommodate the one-time 30% additional refund.

GENERAL FUND	2014-15	2015-16	2016-17	
All Other	$90,000	$0	$0	
				
GENERAL FUND TOTAL	$90,000	$0	$0	
 
’
 
SUMMARY
This amendment removes the Maine capital investment credit. The savings is used to increase the amount of the income tax credit available to a taxpayer under the property tax fairness credit by 30% on a one-time basis for the tax years beginning in 2014. The amendment also adds an appropriations and allocations section.
FISCAL NOTE REQUIRED
(See attached)