ME LD1951

Extends the deadline for qualified investments in food processing and manufacturing facilities from December 31, 2024 to December 31, 2027

Increases the aggregate cap on certificates of approval from $100 million to $200 million in qualified investment, and raises the individual certificate limit from $85 million to $100 million

Raises the annual tax credit rate from 1.8% to 2% of qualified investment for tax years beginning on or after January 1, 2027, claimable for up to 20 years

Allows applicants 12 months from facility start-up (instead of immediately upon start-up) to meet the requirement of employing at least 40 full-time employees in Maine

Expands annual reporting requirements to include total full-time employees, jobs offered above base employment level, and cumulative jobs added since certification