132nd MAINE LEGISLATURE
		LD 229		LR 424(02)
	An Act to Bring Fairness in Income Taxes to Maine Families by Adjusting the Tax Brackets and Tax Rates
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2025-26	FY 2026-27	Projections  FY 2027-28	Projections  FY 2028-29
Net Cost (Savings)
	General Fund		($22,752,500)	($77,615,000)	($84,312,500)	($91,912,500)
Revenue
	General Fund		$22,752,500	$77,615,000	$84,312,500	$91,912,500
	Other Special Revenue Funds		$1,197,500	$4,085,000	$4,437,500	$4,837,500
Fiscal Detail and Notes
	This bill would result in a revenue increase to the General Fund of $22,752,500 in fiscal year 2025-26 and $77,615,000 in fiscal year 2026-27 by adjusting the individual income tax rate brackets and increasing the top marginal tax rates for tax years beginning on or after January 1, 2026. The bill would also result in a revenue increase to the Local Government Fund of $1,197,500 in fiscal year 2025-26 and $4,085,000 in fiscal year 2026-27.