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130th MAINE LEGISLATURE |
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LD 1764 |
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LR 2204(01) |
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An Act To Make a
Technical Correction Concerning Maine's Earned Income Tax Credit |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Rep. Terry of Gorham |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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Preliminary
Fiscal Impact Statement |
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Revenue impact already reflected in current forecast |
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Fiscal Detail
and Notes |
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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. |
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