Maine LD1574: An Act to Amend the Credit for Educational Opportunity and Student Loan Repayment Tax Credit

What the bill says

An Act to Amend the Credit for Educational Opportunity and Student Loan Repayment Tax Credit" Amend the bill by striking out everything after the enacting clause and inserting the following: '.

From the engrossed text:

An Act to Amend the Credit for Educational Opportunity and Student Loan Repayment Tax Credit" Amend the bill by striking out everything after the enacting clause and inserting the following: 'Sec. 1. 36 MRSA §5217-E, sub-§2, as enacted by PL 2021, c. 635, Pt. H, §15, is amended to read: 2. Credit allowed. For taxable years beginning on or after January 1, 2022, a qualified individual is allowed a refundable credit against the tax imposed by this Part in accordance with the provisions of this section. The credit, with respect to a qualified individual, is equal to the amount of loan payments made directly by the taxpayer to the lender during the taxable year plus the amount of any carryover allowed in accordance with paragraph C and, for tax years beginning on or after January 1, 2026, paragraph F, up to a maximum of $2,500 per year. The credit is created to implement the Job Creation Through Educational Opportunity Program established under Title 20‐A, chapter 428‐C., referred to in this subsection as "the program." A. A qualified individual may claim a credit under this section based on loan payments made directly by the taxpayer to a relevant lender or lenders only with respect to loans that are part of the qualified individual's financial aid package and only with respect to …

Read the full official text

Sponsors

• Caldwell Jackson (R, 80) · primary sponsor
• Amy Arata (R, 104)
• Mark Cooper (R, 107)
• Dean Cray (R, 69)
• James Dill (D, 26)
• Timothy Guerrette (R, 4)
• Randall Hall (R, 74)

Latest actions

1. April 29, 2026: Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES. (DEAD)
2. June 25, 2025: CARRIED OVER, in the same posture, to any special or regular session of the 132nd Legislature, pursuant to Joint Order SP 800.
3. June 18, 2025: On motion by Senator ROTUNDO of Androscoggin PLACED ON THE SPECIAL APPROPRIATIONS TABLE pending ENACTMENT in concurrence.
4. June 18, 2025: PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.
5. June 17, 2025: Report READ and ACCEPTED, in concurrence.READ ONCE.Committee Amendment "A" (H-772) READ and ADOPTED, in concurrence.Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "A" (H-772), in concurrence.Ordered sent down forthwith.
6. June 17, 2025: CONSENT CALENDAR - FIRST DAYUnder suspension of the rules CONSENT CALENDAR - SECOND DAY.The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (H-772).Sent for concurrence. ORDERED SENT FORTHWITH.
7. April 10, 2025: The Bill was REFERRED to the Committee on TAXATION in concurrence
8. April 10, 2025: Committee on Taxation suggested and ordered printed. The Bill was REFERRED to the Committee on TAXATION.Sent for concurrence. ORDERED SENT FORTHWITH.

Common questions

What is LD1574?

LD1574 is a bill in the Maine Legislature (132nd Legislature): An Act to Amend the Credit for Educational Opportunity and Student Loan Repayment Tax Credit.

What does LD1574 do?

In its own words: An Act to Amend the Credit for Educational Opportunity and Student Loan Repayment Tax Credit" Amend the bill by striking out everything after the enacting clause and inserting the following: '.

What is the status of LD1574?

Failed as of April 29, 2026. Latest action: Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES. (DEAD) (April 29, 2026).

Who sponsored LD1574?

Caldwell Jackson (R, 80), with 6 co-sponsors.

Where is the official record for LD1574?

On the Maine Legislature website: https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1574&snum=132