Maine LD856: An Act to Phase Out the Income Tax

What the bill says

An Act to Phase Out the Income Tax" Amend the bill by striking out all of section 5 and inserting the following: 'Sec. 5. 36 MRSA §5111, sub-§8 is enacted to read: 8. Income tax eliminated. Beginning January 1, 2030, the imposition of taxes pursuant to this section is prohibited. A return is not required for a taxpayer whose income tax liability has been eliminated under this section. Sec. 6. 36 MRSA §5111, sub-§9 is enacted to read: 9. Fiduciary income tax. This section may not be construed to eliminate the imposition of income tax on a fiduciary. Sec. 7. 36 MRSA §5111, sub-§10 is enacted to.

From the engrossed text:

An Act to Phase Out the Income Tax" Amend the bill by striking out all of section 5 and inserting the following: 'Sec. 5. 36 MRSA §5111, sub-§8 is enacted to read: 8. Income tax eliminated. Beginning January 1, 2030, the imposition of taxes pursuant to this section is prohibited. A return is not required for a taxpayer whose income tax liability has been eliminated under this section. Sec. 6. 36 MRSA §5111, sub-§9 is enacted to read: 9. Fiduciary income tax. This section may not be construed to eliminate the imposition of income tax on a fiduciary. Sec. 7. 36 MRSA §5111, sub-§10 is enacted to read: 10. Refundable tax credit schedule. Refundable tax credits due to a taxpayer eligible for reduced income tax liability under this section must be reduced in value on the same schedule that tax liability is reduced pursuant to subsection 7.' Amend the bill in section 6 in subsection 1-A in the first line (page 2, line 8 in L.D.) by striking out the following: "2017" and inserting the following: '2018' Amend the bill in section 7 in subsection 7 in the first 2 lines (page 2, lines 33 and in L.D.) by striking out the following: "and ending before January 1, 2030" Amend the bill by striking out all of section 8 and …

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Sponsors

• David Boyer (R, 87) · primary sponsor
• Susan Bernard (R, 1)