ME LD1217

Creates "Program 2 tax credit authority" for allocations made on or after January 1, 2026, with a maximum aggregate of $250,000,000 in qualified equity investments and a $20,000,000 annual cap per tax credit claim over 7 years

Establishes a new category of "Maine fund" for qualified community development entities with principal business operations in the state for at least 60 months, allowing them to qualify for tax credit allocations

Shortens investment timelines for Program 2: entities must issue qualified equity investments within 12 months of allocation (versus 24 months for Program 1) and invest 85% of proceeds within 12 months (versus 24 months)

Requires the authority to adopt rules for Program 2 by December 31, 2025, and submit a program activity report to the Legislature by January 1, 2030

Retains Program 1 tax credit authority (allocated before January 1, 2026) with its existing $250,000,000 cap and 24-month timelines