HP0778, LD 1043, item 20, Document Text

HP0778 LD 1043	First Regular Session - 125th Maine Legislature S "C" to C "A", Filing Number S-316, Sponsored by WOODBURY		LR 2067 Item 20
	Bill Tracking, Additional Documents	Chamber Status

Amend the amendment in Part N by striking out all of section 2 and inserting the following:

‘Sec. N-2. 36 MRSA §5111, sub-§1-C is enacted to read:

1-C. Single individuals and married persons filing separate returns; tax years beginning 2013. For tax years beginning on or after January 1, 2013, for single individuals and married persons filing separate returns:

If Maine Taxable income is:	The tax is:
Less than $5,000	2% of the Maine taxable income
At least $5,000 but less than $9,950	$100 plus 4.5% of the excess over $5,000
At least $9,950 but less than $19,950	$323 plus 7% of the excess over $9,950
$19,950 or more	$1,023 plus 7.95% of the excess over $19,950

’

Amend the amendment in Part N by striking out all of section 4 and inserting the following:

‘Sec. N-4. 36 MRSA §5111, sub-§2-C is enacted to read:

2-C. Heads of households; tax years beginning 2013. For tax years beginning on or after January 1, 2013, for unmarried individuals or legally separated individuals who qualify as heads of households:

If Maine Taxable income is:	The tax is:
Less than $7,500	2% of the Maine taxable income
At least $7,500 but less than $14,900	$150 plus 4.5% of the excess over $7,500
At least $14,900 but less than $29,900	$483 plus 7% of the excess over $14,900
$29,900 or more	$1,533 plus 7.95% of the excess over $29,900

’

Amend the amendment in Part N by striking out all of section 6 and inserting the following:

‘Sec. N-6. 36 MRSA §5111, sub-§3-C is enacted to read:

3-C. Individuals filing married joint return or surviving spouses; tax years beginning 2013. For tax years beginning on or after January 1, 2013, for individuals filing married joint returns or surviving spouses permitted to file a joint return:

If Maine Taxable income is:	The tax is:
Less than $10,000	2% of the Maine taxable income
At least $10,000 but less than $19,950	$200 plus 4.5% of the excess over $10,000
At least $19,950 but less than $39,900	$648 plus 7% of the excess over $19,950
$39,900 or more	$2,045 plus 7.95% of the excess over $39,900

’

Amend the amendment in Part T in section 10 in paragraph A in the 5th line (page 557, line 34 in amendment) by striking out the following: " $20,000" and inserting the following: ' $25,000'

Amend the amendment in Part T in section 22 in the 9th line (page 562, line 13 in amendment) by striking out the following: "$20,000" and inserting the following: '$25,000'

Amend the amendment by inserting after Part QQQQ the following:

PART RRRR

‘

Sec. RRRR-1. Appropriations and allocations. The following appropriations and allocations are made.

ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF

Executive Branch Departments and Independent Agencies - Statewide 0017

Initiative: Appropriates funds to increase the limit on retirement benefits that are subject to a cost-of-living adjustment from $20,000 to $25,000.

GENERAL FUND 2011-12 2012-13

Personal Services
$2,023,938 $2,042,523

inline graphic sline.gif

GENERAL FUND TOTAL $2,023,938 $2,042,523

ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF

DEPARTMENT TOTALS 2011-12 2012-13

GENERAL FUND
$2,023,938 $2,042,523

inline graphic sline.gif

DEPARTMENT TOTAL - ALL FUNDS $2,023,938 $2,042,523

EDUCATION, DEPARTMENT OF

Teacher Retirement 0170

Initiative: Appropriates funds to increase the limit on retirement benefits that are subject to a cost-of-living adjustment from $20,000 to $25,000.

GENERAL FUND 2011-12 2012-13

All Other
$10,645,325 $10,805,004

inline graphic sline.gif

GENERAL FUND TOTAL $10,645,325 $10,805,004

EDUCATION, DEPARTMENT OF

DEPARTMENT TOTALS 2011-12 2012-13

GENERAL FUND
$10,645,325 $10,805,004

inline graphic sline.gif

DEPARTMENT TOTAL - ALL FUNDS $10,645,325 $10,805,004

JUDICIAL DEPARTMENT

Courts - Supreme, Superior and District 0063

Initiative: Appropriates funds to increase the limit on retirement benefits that are subject to a cost-of-living adjustment from $20,000 to $25,000.

GENERAL FUND 2011-12 2012-13

Personal Services
$131,937 $133,149

inline graphic sline.gif

GENERAL FUND TOTAL $131,937 $133,149

JUDICIAL DEPARTMENT

DEPARTMENT TOTALS 2011-12 2012-13

GENERAL FUND
$131,937 $133,149

inline graphic sline.gif

DEPARTMENT TOTAL - ALL FUNDS $131,937 $133,149

LAW AND LEGISLATIVE REFERENCE LIBRARY

Law and Legislative Reference Library 0636

Initiative: Appropriates funds to increase the limit on retirement benefits that are subject to a cost-of-living adjustment from $20,000 to $25,000.

GENERAL FUND 2011-12 2012-13

Personal Services
$6,058 $6,114

inline graphic sline.gif

GENERAL FUND TOTAL $6,058 $6,114

LAW AND LEGISLATIVE REFERENCE LIBRARY

DEPARTMENT TOTALS 2011-12 2012-13

GENERAL FUND
$6,058 $6,114

inline graphic sline.gif

DEPARTMENT TOTAL - ALL FUNDS $6,058 $6,114

LEGISLATURE

Legislature 0081

Initiative: Appropriates funds to increase the limit on retirement benefits that are subject to a cost-of-living adjustment from $20,000 to $25,000.

GENERAL FUND 2011-12 2012-13

Personal Services
$78,085 $78,802

inline graphic sline.gif

GENERAL FUND TOTAL $78,085 $78,802

LEGISLATURE

DEPARTMENT TOTALS 2011-12 2012-13

GENERAL FUND
$78,085 $78,802

inline graphic sline.gif

DEPARTMENT TOTAL - ALL FUNDS $78,085 $78,802

PROGRAM EVALUATION AND GOVERNMENT ACCOUNTABILITY, OFFICE OF

Office of Program Evaluation and Government Accountability 0976

Initiative: Appropriates funds to increase the limit on retirement benefits that are subject to a cost-of-living adjustment from $20,000 to $25,000.

GENERAL FUND 2011-12 2012-13

Personal Services
$3,815 $3,850

inline graphic sline.gif

GENERAL FUND TOTAL $3,815 $3,850

PROGRAM EVALUATION AND GOVERNMENT ACCOUNTABILITY, OFFICE OF

DEPARTMENT TOTALS 2011-12 2012-13

GENERAL FUND
$3,815 $3,850

inline graphic sline.gif

DEPARTMENT TOTAL - ALL FUNDS $3,815 $3,850

SECTION TOTALS 2011-12 2012-13

GENERAL FUND
$12,889,158 $13,069,442

inline graphic sline.gif

SECTION TOTAL - ALL FUNDS $12,889,158 $13,069,442

’

Amend the amendment by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.

summary

This amendment raises the cap on the amount of pension income that is eligible for a cost-of-living adjustment from $20,000 to $25,000. It also eliminates the new 6.5% income tax rate and retains the 2%, 4.5% and 7% rates and the applicable income tax brackets. The amendment also adds an appropriations and allocations section.

FISCAL NOTE REQUIRED

(See attached)

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