ME LD195

Creates the Small Business Capital Savings Account Program within the Department of Economic and Community Development to provide tax deductions for contributions to designated savings accounts used for capital expenditures

Limits eligibility to Maine-headquartered businesses with 99 or fewer employees in commercial agricultural production, commercial fishing, or commercial wood harvesting industries

Caps program participation at 30 certified businesses total (up to 10 per industry category), with account balances limited to $250,000 and annual contribution deductions capped at $250,000

Establishes a four-year contribution window from January 1, 2026 through December 31, 2029, with withdrawals not used for capital expenditures treated as taxable income

Requires the department to submit a program evaluation report to the Legislature by November 1, 2028 with recommendations on whether to continue the program