Legislators call for job figures in tax break report
Legislators looking at the state's tax policies say they want more detail from a Maine Revenue Services report on how business tax breaks are keeping or creating jobs.
Capitol News Service reported that Mike Allen, the state's associate commissioner for tax policy, argued that the report covering four tax credit programs and the Business Equipment Tax Reimbursement program aims only to show how much the taxes cost the state and not how effective they are.
In total, the report lists 1,800 companies in the state that were reimbursed $52.7 million, a figure that prompted some legislators to say they would like to see specific returns in terms of jobs retained or created.
One credit, the Jobs and Investment Tax Credit, was used by just one employer, netting $489,986 in tax credits with a requirement to create 100 jobs. Rep. Gary Knight, R-Livermore Falls, said he wants to review that credit and others to determine their effectiveness, CNS reported.
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