Lawmakers mull future of tax break program for businesses
AUGUSTA, Maine (AP) — Maine lawmakers are considering the future of a $12 million tax break program after a state report found the benefits aren’t necessarily flowing to the businesses that the law originally targeted.
The Portland Press Herald reports that the Pine Tree Development Zone program was intended to provide a tax break to companies that create new jobs in areas with high unemployment. A report reviewed by lawmakers Monday found that many companies benefited without creating new jobs and that legislative changes greatly expanded the areas where it was available.
Some lawmakers on the Legislature’s tax committee said the program should be refocused.
The head of the state’s economic development department says the program is a major tool for attracting businesses.