PART CC

Sec. CC-1. 36 MRSA §5122, sub-§1, ¶V, as amended by PL 2005, c. 12, Pt. L, §1, is further amended to read:

V. For tax years beginning on or after January 1, 2003 and before January 1, 2007 2006, the amount claimed as a federal income adjustment for student loan interest under the Code, Section 62 (a)(17), but only for interest paid after 60 months from the start of the loan repayment period;

PART DD

Sec. DD-1. 36 MRSA §5218, sub-§1, as amended by PL 2005, c. 12, Pt. L, §2, is further amended to read:

1. Resident taxpayer. A resident individual is allowed a credit against the tax otherwise due under this Part in the amount of 25% of the federal tax credit allowable for child and dependent care expenses in the same tax year, except that for tax years beginning in 2003 to 2006, 2004 and 2005, the applicable percentage is 21.5% instead of 25%.

Sec. DD-2. 36 MRSA §5218, sub-§2, as amended by PL 2005, c. 12, Pt. L, §3, is further amended to read:

2. Nonresident taxpayer. A nonresident individual is allowed a credit against the tax otherwise due under this Part in the amount of 25% of the federal tax credit allowable for child and dependent care expenses multiplied by the ratio of the individual's Maine adjusted gross income, as defined in section 5102, subsection 1-C, paragraph B, to the individual's entire federal adjusted gross income, as modified by section 5122, except that for tax years beginning in 2003 to 2006, 2004 and 2005, the applicable percentage is 21.5% instead of 25%.