130th MAINE LEGISLATURE
LD 1764 LR 2204(03)
An Act To Make a Technical Correction Concerning Maine's Earned Income Tax Credit
Fiscal Note for Bill as Engrossed with:
C "A" (H-753)
Committee: Taxation
             
Fiscal Note
Revenue impact already reflected in current forecast
Fiscal Detail and Notes
This bill corrects a drafting error in Public Law 2021, chapter 398, which inadvertently limited a credit of 20% of the federal earned income tax credit for nonresidents and part-year residents to those who do not have a qualifying child instead of making the credit available to all residents, nonresidents and part-year residents regardless of whether or not the resident has a qualifying child. The fiscal note associated with Public Law 2021, chapter 398, already assumed the credit applied to this expanded group and the resulting loss in revenue is already reflected in the current revenue forecast.