Veterans Tax Reimbursement 0407

Initiative: Reduces funds to reflect administrative change to timing of payments from the Veterans Tax Reimbursement program. Funds appropriated for fiscal year 2005-06 are deappropriated and effectively moved to fiscal year 2006-07 by partial deappropriation of previous appropriation for 2006-07.

GENERAL FUND 2005-06 2006-07

All Other ($895,000) ($15,000)

__________ __________

GENERAL FUND TOTAL ($895,000) ($15,000)

PART EEE

Sec. EEE-1. 36 MRSA §6201, sub-§9, as amended by PL 1999, c. 414, §54 and affected by §57, is further amended to read:

9. Income. "Income" means the sum of Maine adjusted gross income determined in accordance with Part 8,; contributions, including catch-up contributions, to any pension, annuity or retirement plan to the extent not included in Maine adjusted gross income, including contributions to an individual retirement account under Section 408 of the Code, a simplified employee pension plan, a salary reduction simplified employee pension plan, a savings incentive match plan for employees plan and a deferred compensation plan under Section 457 of the Code, and cash or deferred arrangements under Section 401 of the Code and qualified, or "Keogh," accounts; amounts excluded from gross income under Sections 125 and 129 of the Code; distributions from ROTH IRAs; the amount of capital gains excluded from adjusted gross income,; the absolute value of the amount of trade or business loss, net operating loss carry-over, capital loss, rental loss, farm loss, partnership or S Corporation loss included in adjusted gross income,; alimony,; inheritance,; life insurance proceeds paid on death of insured,; nontaxable lawsuit rewards, such as slander, libel and pain and suffering, excluding reimbursements such as medical and legal expenses associated with the case,; support money,; nontaxable strike benefits,; the gross amount of any pension or annuity, including railroad retirement benefits,; all payments received under the federal Social Security Act, and state unemployment insurance laws,; veterans' disability pensions,; nontaxable interest received from the Federal Government or any of its instrumentalities,; interest or dividends on obligations or securities of this State and its political subdivisions and authorities,; workers' compensation and the gross amount of "loss of time" insurance,; and cash