Terms Used In Maine Revised Statutes > Title 36 > Part 9 > Chapter 919 - Shipbuilding Facility Credit

• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Certified applicant: means a qualified applicant that has received a certificate of approval from the commissioner pursuant to this chapter and does not participate in the Employment Tax Increment Financing Program established in section 6752 while receiving this credit. See Maine Revised Statutes Title 36 Sec. 6851
• Code: means the United States Internal Revenue Code of 1986 and amendments to that Code as of December 31, 2022. See Maine Revised Statutes Title 36 Sec. 111
• Commissioner: means the Commissioner of Economic and Community Development. See Maine Revised Statutes Title 36 Sec. 6851
• Contract: A legal written agreement that becomes binding when signed.
• Employment: means , for each calendar year, the amount determined by adding the total number of qualified employees of a certified applicant on each of 6 consecutive measurement days of that calendar year as chosen by the certified applicant and then dividing that sum by 6. See Maine Revised Statutes Title 36 Sec. 6851
• Exception year: means the first calendar year in which a certified applicant has employment of less than 5,000 if the total Maine income taxes deducted and withheld by the certified applicant from qualified employees for that year totals at least $6,000,000. See Maine Revised Statutes Title 36 Sec. 6851
• Facility: includes real estate, tangible personal property, fixtures, machinery and equipment. See Maine Revised Statutes Title 36 Sec. 6851
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• lands: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Measurement day: means the last business day of every other month of any calendar year. See Maine Revised Statutes Title 36 Sec. 6851
• Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: means an individual, firm, partnership, association, society, club, corporation, financial institution, estate, trust, business trust, receiver, assignee or any other group or combination acting as a unit, the State or Federal Government or any political subdivision or agency of either government. See Maine Revised Statutes Title 36 Sec. 111
• Personal property: All property that is not real property.
• Qualified applicant: means an applicant for benefits under this chapter that satisfies each of the following tests. See Maine Revised Statutes Title 36 Sec. 6851
• Qualified employee: means a person: