ME LD2078

Creates a new refundable "Electricity Cost Fairness Credit" for Maine residents and part-year residents, effective for tax years beginning January 1, 2026

Base credit amounts are $335 for single filers and $550 for joint filers or heads of households, with additional $25-$50 for filers with qualifying children or dependents (maximum credit up to $600)

Credit phases out based on income: for single filers above $20,000, heads of households above $30,000, and joint filers above $40,000

Married taxpayers filing separately, non-residents, and individuals claimed as dependents on another return are ineligible for the credit

Both the base credit amounts and income thresholds will be adjusted annually for inflation beginning in 2027 using the Chained Consumer Price Index