ME LD2044

Allows taxpayers with certified biofuel production tax credits to transfer those credits in whole or in part to any individual or entity, who may then apply them against their own Maine income tax liability

Establishes a similar transferability mechanism for renewable chemicals tax credits, requiring assessor approval before credits can be transferred

Transferees must attach documentation to their tax returns showing the transferred certification and the amount of credit received

Credits transferred to third parties remain subject to the same limitations and carry-forward provisions that applied to the original taxpayer

Taxpayers who transfer credits are prohibited from claiming the same credits they have already transferred