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ME LD1089

Bill

Official Source

Status

Failed

6/12/2025

Primary Sponsor

Cheryl Golek

Click for details

Origin

House of Representatives

132nd Legislature

AI Summary

  • Imposes a 4% income tax surcharge on Maine taxable income exceeding $1,000,000, effective for tax years beginning January 1, 2025

  • Surcharge applies in addition to existing state income taxes

  • All revenue generated from the surcharge is dedicated exclusively to funding public prekindergarten through grade 12 education

  • Aims to permanently fund 55% of the state's share of education costs through this dedicated revenue stream

Legislative Description

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

Income Tax

Last Action

Unfinished Business

3/12/2026

Committee Referrals

Taxation3/14/2025

Full Bill Text

No bill text available