| | | Be it enacted by the People of the State of Maine as follows: |
|
| | | Sec. 1. 36 MRSA §5219-S, as amended by PL 2003, c. 20, Pt. GG, §1, | | is further amended to read: |
|
| | | §5219-S. Earned income credit |
|
| | | A taxpayer is allowed a refundable credit against the taxes | otherwise due under this Part equal to 5% | earned income credit for the same taxable year, except that for | tax years beginning in 2003, 2004 and 2005, the applicable | percentage is 4.92% instead of 5%The credit may not reduce the | state income tax to less than zero. |
|
| | | This bill is a recommendation of the Study Commission | | Regarding Liveable Wages. The bill expands the Maine earned | | income tax credit by increasing it to 30% of the federal credit | | and by making it refundable. |
|
|
