Maine legislation · 132nd Legislature
Maine LD1089: An Act to Permanently Fund 55 Percent of the State's Share of Education by Establishing a Tax on Incomes of More than $1,000,000
Status: Failed, April 29, 2026
What the bill says
An Act to Permanently Fund 55 Percent of the State's Share of Education by Establishing a Tax on Incomes of More than $1,000,000" Amend the bill by striking out the title and substituting the following: 'An Act to Permanently Fund 55 Percent of the State's Share of Education by Establishing a Tax on High-income Earners' Amend the bill by striking out everything after the enacting clause and inserting the following: '.
From the introduced text:
An Act to Permanently Fund 55 Percent of the State's Share of Education by Establishing a Tax on Incomes of More than $1,000,000" Amend the bill by striking out the title and substituting the following: 'An Act to Permanently Fund 55 Percent of the State's Share of Education by Establishing a Tax on High-income Earners' Amend the bill by striking out everything after the enacting clause and inserting the following: 'Sec. 1. 20-A MRSA §15699 is enacted to read: §15699. Fund for Public Prekindergarten to Grade 12 Education 1. Fund established. The Fund for Public Prekindergarten to Grade 12 Education, referred to in this section as "the fund," is established as an interest-bearing account administered by the department. 2. Revenue. The Treasurer of State shall deposit all revenue collected pursuant to Title 36, section 5111, subsection 7 from the income tax surcharge to fund education into the fund according to the schedule in Title 36, section 5111, subsection 7. All interest earned by the fund becomes part of the fund. 3. Use of fund. The commissioner shall use the fund to ensure the State meets or exceeds the annual target established by section 15752, inclusive of prekindergarten funding. Sec. 2. 30-A MRSA §5681, sub-§5, as amended by PL 2023, c. 412, Pt. XXX, §1 and affected by §15, is further …
Sponsors
- Cheryl Golek (D, 99) · primary sponsor
- William Bridgeo (D, 60)