An Act To Increase the Earned Income Tax Credit for Maine Residents
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §5219-S, sub-§1, as amended by PL 2009, c. 213, Pt. BBBB, §16, 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 5% 20% of the federal earned income credit for the same taxable year, except that for tax years beginning in 2009 and 2010, the applicable percentage is 4%.
Sec. 2. 36 MRSA §5219-S, sub-§§2 and 3, as amended by PL 2009, c. 213, Pt. BBBB, §16, are repealed.
Sec. 3. Application. This Act applies to tax years beginning on or after January 1, 2015.
summary
This bill increases the earned income tax credit for Maine residents from 5% of the federal earned income credit to 20% of the federal earned income credit. This bill also repeals the eligibility of nonresidents and part-year residents for the Maine earned income tax credit.