An Act To Amend The Education And Experience Requirements And Add Reciprocity Privileges In The Certified Public Accountancy Licensure Laws

LD 1789 amends Maine's CPA licensure laws to create reciprocity for out-of-state licensed CPAs and firms. It establishes "firm practice privilege reciprocity" (allowing out-of-state CPA firms to practice in Maine without a new Maine license if they meet requirements) and "individual practice privilege reciprocity" (allowing individual CPAs from other states to practice in Maine under similar conditions). The bill also updates education requirements to mandate a minimum 150 semester hours, including a bachelor's degree with accounting/auditing coursework, and revises experience requirements for initial licensure (e.g., 2 years of experience with a bachelor's degree or 1 year with a master's degree). These changes directly affect CPAs and firms seeking to practice or expand services in Maine without obtaining a new state license.