An Act Creating and Sustaining Jobs Through the Development of Cooperatives and Employee-owned Businesses by Providing Tax Deductions for Certain Qualified Business Activities

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Plain-English Summary

This bill aims to create and sustain jobs in Maine by promoting employee-owned businesses and cooperatives. It establishes a Maine Employee Ownership Center to provide education and assistance for businesses transitioning to employee ownership. The bill also offers tax deductions for business owners who sell a majority ownership interest in a qualified business to an employee stock ownership plan or cooperative, and for interest received on loans used to acquire such businesses.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

Votes

Sponsorship · 8 Sponsors

Democrat7Republican1Independent0Other0

D · PrimeCameron Reny
D · CoGlenn Curry
D · CoHolly Eaton
D · CoValli Geiger
D · CoAllison Hepler
R · CoMarianne Moore
D · CoHolly Stover
D · CoMichael Tipping

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