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THE EXPANDED AND IMPROVED SEED CAPITAL TAX CREDIT WAS HUGELY POPULAR IN THE MAINE LEGISLATURE PASSING WITH A UNANIMOUS VOTE- AT LEAST IN THE SENATE - EXACT ROLL CALL IN HOUSE NOT KNOWN.This is one of the mini-timelines of incremental ism which I created for A Maine Citizen's Journey Through the Statutes of Transformation ( created in hopes of generating a cash flow in support of my independent research- you can receive the full timeline by sending a contribution to this blog to mackenzie @andersenstudio.com via Paypal)
Time line of Incrementalism - The Seed Capital Tax Credit
When §5216-B. Seed capital investmentwas first established 30 % of capitalist investment was designated to be covered by taxpayers spread out over 2 years.
EnactedLaw Summary:Public Law 2001, chapter 446 amends the Maine Seed Capital Tax Credit Program by increasing the amount of the tax credit from 30% to 40% of an eligible investment, authorizing the use of the credit for investments in certain private venture capital funds and allowing the credit to flow through certain entities to the underlying taxpayer. In addition, the bill increases the total authorized amount of tax credits that may be issued under the program from $8,000,000 to $12,000,000 over a 4-year period, requires that the credit be spread out over 7 years rather than 2 years and requires the Finance Authority of Maine report to the joint standing committee of the Legislature having jurisdiction over taxation matters in each of the next 2 years.
2001 chunk of investment paid by taxpayers goes from 30-40%. Rate of transfer from people to owners of the means of production escalated by 50%- spread out over 7 years
2011 Maine Seed Capital Tax Credit Amended to increase the amount paid by taxpayers to 60% of capitalist's investment
2013 Taxpayer now pays 60% of capitalists investment spread out over four years- amount allowed to transfer of wealth from taxpayers to the owners of the means of production escalated eight fold. “Tax Credits” extended to out of state investors who do not owe Maine taxes and therefore will receive a cash payment from Maine taxpayers . The legislature calls the bill “The Expanded and Improved Seed Capital tax Credit” Expanded indeed! Improved? Only for the capitalists!
This is the Summary for Bond Question #6. I have mixed feelings about it , as I am cognizant that environmental issues can be used as tools of political manipulation- and at the same time cognizant that in an era of heightened terrorists threats to the USA, we need to be all the more prepared to protect our water supplies- which is more dangerous - the threat from within or the threat from without? I don't really have enough information to answer that question.
SUMMARYThis bill authorizes a bond issue in the amount of $50,000,000 in order to make cost- effective investments in natural and built infrastructure to reduce threats to the State's water resources and provide a host of benefits for communities across Maine, including ensuring an abundant and high-quality drinking water supply, allowing communities to more effectively prepare for storms and flood events, conserving habitat for recreational fisheries, waterfowl and aquatic and wildlife species and strengthening the State's long-term economic base and competitive advantage. The bill establishes the Water Resources Commission and the Fund To Ensure Clean Water and Safe Communities. The commission is charged with assessing the State's water resource infrastructure needs and with allocating funds for resource conservation and development projects.
That said I will move on to some of the details of the 2013 legislative session, which I cover in A Maine Citizen's Journey Through The Statutes of Transformation.
The legislature has constructed its corporate network with much social benefit rhetoric ordaining their own high intentions as statutes as we see in this little bit of history:
However practice is different from rhetoric:
In 2013 there was a failed attempt to pass a bill protecting the public's right to know about potential ricks from hazardous materials:
2013, May An Act To Implement the Recommendations of the Right To Know Advisory Committee Concerning Public Access to Records Relating to Public-private Partnerships
Co-Sponsored by: Senator Langley, and Representatives Daughtry, MacDonald, Malaby, Nelson, Parry, Pouliot, and Sirocki
This regards a conflict of interest between the communities right to know and freedom of access to information concerning toxic and hazardous substances vs business advantages to the Department of Transportation and public-private relationships in attracting large corporations to the state by keeping the confidentiality provision on as it is - protected as a trade secret pursuant to 1985 Part 3: 487, §11 Chapter 271: HEALTH PROGRAMS:Subchapter 2: COMMUNITY HEALTH INVESTIGATION AND INFORMATION§1696-F. Provision of information; trade secrets (1989 ) ( See David Hastings Testimony)
NO Surprise that Maine State Inc and the hegemonic power of public-private relationships won the day in the conflict of interests between the general public's welfare and the profit and opacity of the corporate state- the same legislature that unanimously supported the expansion of The Seed Capital Tax Credit voted that a bill protecting the public's right to know about potential hazardous risk "Ought Not To Pass" !