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ME LD1622
Bill
Status
5/28/2025
Primary Sponsor
Jeffrey Adams
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AI Summary
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Exempts all pension income from Maine state income tax beginning January 1, 2026, removing the current cap that limits the deduction based on Social Security benefit levels
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Exempts all tip income from Maine state income tax beginning January 1, 2026
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Exempts all overtime pay from Maine state income tax beginning January 1, 2026
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Military retirement benefits remain fully exempt from state income tax, continuing the existing policy
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Current pension deduction provisions (which phased from $10,000 pre-2022 to $30,000 in 2023) expire December 31, 2025 and are replaced by the unlimited exemption
Legislative Description
An Act to Exempt Certain Income from State Income Tax
Income Tax
Last Action
Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)
5/28/2025