Tax committee tables transferability bill; sponsor to draft refundable-credit amendment After hearing MRS concerns about administrative burden, the taxation committee tabled LD 2044 (transferability of biofuel and renewable chemicals tax credits) and asked sponsor Sen. Perce to draft a refundable-credit alternative with a timeline and return to the committee.

Maine's tax committee has hit pause on a pivotal bill aimed at incentivizing biofuel production, seeking a simpler, refundable-credit alternative after concerns over complexity and administrative burden.

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Committee hears bill to allow transfer of biofuel and renewable‑chemical tax credits The Joint Standing Committee on Taxation held a public hearing on LD 2044, a proposal to let certified biofuel and renewable‑chemical producers transfer or sell tax credits to entities with tax liability. Supporters said transferability would make early‑stage biorefineries bankable; state officials warned of administrative and fiscal trade‑offs.

Maine's new bill could unlock vital tax credits for biofuel producers, potentially transforming the state's economy and reviving rural industries.

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