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130th MAINE LEGISLATURE |
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LD 1764 |
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LR 2204(02) |
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An Act To Make a
Technical Correction Concerning Maine's Earned Income Tax Credit |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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Fiscal Note |
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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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