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Sponsor proposes bigger, more measurable R&D tax credit and new reporting requirements; administration warns of concentrated benefits and fiscal cost
Summary
Rep. Tiffany Sayre proposed LD 926 to expand Maine's research expense tax credit: increase calculation rates, lower the base threshold, double the credit cap and add annual reporting metrics. Supporters said the changes would spur local innovation and help small and early‑stage firms; the administration and policy analysts warned the benefits are
Representative Tiffany Sayre presented LD 926, a proposal to expand Maine’s research expense tax credit and to add annual reporting and performance measures for legislative oversight.
The sponsor said the bill would: raise the credit percentage (from 5% to 10% of qualifying expenses exceeding a base), reduce the base amount (currently 100% of the average of the prior three years) to 50% to broaden eligibility for smaller or early‑stage firms, increase the per‑taxpayer credit limit, and improve public reporting and evaluation metrics so the Legislature and OPEGA can better judge the program’s…
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