§13051. Legislative findings ( a global capitalist philosophy !)
2001 Statute establishing Municipal Tax Increment Financing (TIF) controlled by the DECD corporation3. Declaration of public purpose. It is declared that the actions required to assist the implementation of development programs are a public purpose and that the execution and financing of these programs are a public purpose.[ 2001, c. 669, §1 (NEW) .] (emphasis mine)
Why is all of the authority granted below- not first granted by the Maine Constitution under the Home Rule Amendment ? This statute appears to be intended to transfer the authority described below to the state, which by 2001 has been transformed into the Maine Development Corporation- a public private relationship. Although written as though the statute is granting authority to the municipalities, it is arguable that it is actually claiming authority constitutionally granted to the municipalities for the state, which is now transformed into Maine State Inc.
Municipal Tax Increment Financing (TIF)
§5221. Findings and declaration of necessity
2001 Chapter 383: ECONOMIC AND COMMUNITY DEVELOPMENT Subchapter 9: MAINE RURAL DEVELOPMENT AUTHORITY controlled by the DECD corporation §13120-A. Authority established; purpose
Combating pollution has shot up the agenda of the ruling Communist Party, which for years pushed for rapid economic development with little concern about the environmental impact. Under public pressure to reduce the air pollution that blankets Beijing and cities across China, the country’s leaders are rebalancing their priorities. China Declares War on Pollution-NY POST
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
2013 §152. Ratification of bond issue; signed statement
I have written about recently this on this blog. This bill is repugnant to the Maine Constitution, which requires that a short paragraph of fiscal information accompany bond questions on the ballot in order for the bonds to be ratified. This bill moves that very short paragraph off the voting ballot and instructs it to be placed somewhere out side the guard rail which separates the voting area from the rest of the world.
Links to posts on this issue
the power of the state to manage the state workforce utilizing
multiple corporate subsidiaries of Maine State Inc and creating an
"Industry Collaborative" in which private business
relations with other private businesses will be organized in a
collaborative way by the state. Governor
Act To Strengthen Maine's Workforce and Economic Future
In light of the 1977 statute which appears to still be on the books and which grants blanket tax exemption to small business investment corporations- the "refundable Seed Capital Tax Credit" becomes non other than a direct transfer of money from the pockets of the people to the bank accounts of investment corporations. A refundable tax credit means if no taxes are owed- as is the case pursuant to the 1977 statute, then the taxpayers owe the investors a cash payout refund of a percentage of their investment. That percentage started as 30% when the Seed Capital Tax credit was first created in 1987 and became 60% in 2011, Given that the 1977 statute exempts investment corporations from taxation, calling this bill a tax credit amounts to a willful deception of the people by the Maine State legislature.
- ·Removing limits on the life of a capital fund ( after following the references back to the original statutes, the limit that I found is to the length of time that the investor has to collect his tax credit pursuant to the limitation imposed that it must not be greater than 50% of his total tax due. There has been a 15 year limit imposed on the investor in which his tax credit can be applied....until now.
- The following sentence is added to the definition of a venture capital fund: An entity that otherwise qualifies as a private venture capital fund may elect not to be treated as a private venture capital fund for purposes of this section with respect to any proposed investment.
- The amount of annual gross sales for the business receiving the investment has been changed from $3,000,000 or less to $5,000,000 or less.
- The requirement that the operation of the business must be the full-time activity of the owner has been changed to a substantial professional activity of at least one of the principal owners, as determined by the authority
- The requirement that the eligible business bring capital to the state has been struck out.
- In section D in which limitations on the investment to which any entity is applying are discussed, the word "entity" is struck out and replaced with "private venture capital fund"
- Section D changes the aggregate limit for a private venture capital fund from $500,000 to $4,000,000 and strikes out the individual limit within the aggregate for entities treated as a flow-through entity for tax purposes.
- Changes the annual gross sales allowed for eligible businesses from $3,000,000 to $5,000,000
- Changes the requirement that the operation of the business must be the full-time activity of the principal owner to substantial professional activity of one or more individuals who are not managers of the private venture capital fund, as determined by the authority.
- Changes the prohibition against a tax credit certificate being issued to a private venture capital fund if an investor in the fund is a principal owner of the eligible business or a family member of the investor has any existing ownership interest in the business. by striking out "investor" and replacing it with "manager of the fund".
- Increases the amount of that the tax credit is not allowed to exceed , which was $2,000,000 in 1996 and becomes $5,000,000 in 2015-