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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateMaine
Reporting JurisdictionMaine
Jurisdiction type: State
Fiscal year ending In2018
Program nameEmployment Tax Increment Financing (TIF)
Program purpose: Job Creation/Retention
Statutory authority: 36 M.R.S.A. §6754
Abating jurisdiction(s): State of Maine
Applicable taxesState Income Tax; Withholding from employee salary
Method of abatement: Reimbursement
Provisions for recapture: Any overpayment must be applied to reduce future reimbursement payments. Overpayments must be repaid if the business no longer qualifies for future payments.
Gross revenue loss: $13,326,078
Reimbursement / offset: $0
Net revenue loss: $13,326,078
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.maine.gov/osc/financial-reporting/annual-comprehensive-finan...