Maine LD 1519: An Act To Amend the Tax Laws To Strengthen Charitable Institutions, Encourage Home Ownership and Manage Medical Expenses

LD 1519 (subjects: INCOME TAX , DEDUCTIONS )

Official bill page at mainelegislature.org: http://www.mainelegislature.org/legis/bills/display_ps.asp?ld=1519&PID=1456&snum=127


Sponsors | Actions | Bill Text | Patterns of Support


Sponsors

Principal Sponsor: Rep. Matthew Pouliot of Augusta: (R – District 86) — e-mail | Twitter | Facebook

9 Cosponsors:

Actions

Chamber

Action
1/6/2016 House Committee on Taxation suggested and ordered printed.
The Bill was REFERRED to the Committee on TAXATION.
Sent for concurrence. ORDERED SENT FORTHWITH.
1/7/2016 Senate On motion by Senator McCORMICK of Kennebec Tabled until Later in Today’s Session, pending REFERENCE in concurrence
Unfinished Business
1/12/2016 Senate (Unfinished Business)
1/14/2016 Senate Unfinished Business
1/19/2016 Senate Unfinished Business
1/21/2016 Senate Unfinished Business
1/26/2016 Senate Taken from the table by the President
On motion by Senator McCORMICK of Kennebec REFERRED to the Committee on TAXATION in concurrence
3/31/2016 Senate Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)

Bill Text

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An Act To Amend the Tax Laws To Strengthen Charitable Institutions, Encourage Home Ownership and Manage Medical Expenses

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 36 MRSA 5122, sub- 1, JJ, as enacted by PL 2015, c. 267, Pt. DD, 8, is amended to read:

JJ. For tax years beginning on or after January 1, 2016, an amount equal to the taxpayer base multiplied by the following fraction:

(1) For single individuals and married persons filing separate returns, the numerator is the taxpayer’s Maine adjusted gross income less $70,000, except that the numerator may not be less than zero, and the denominator is $75,000. In no case may the fraction contained in this subparagraph produce a result that is more than one. The $70,000 amount used to calculate the numerator in this subparagraph must be adjusted for inflation in accordance with section 5403, subsection 3 4;

(2) For individuals filing as heads of households, the numerator is the taxpayer’s Maine adjusted gross income less $105,000, except that the numerator may not be less than zero, and the denominator is $112,500. In no case may the fraction contained in this subparagraph produce a result that is more than one. The $105,000 amount used to calculate the numerator in this subparagraph must be adjusted for inflation in accordance with section 5403, subsection 3 4; or

(3) For individuals filing married joint returns or surviving spouses, the numerator is the taxpayer’s Maine adjusted gross income less $140,000, except that the numerator may not be less than zero, and the denominator is $150,000. In no case may the fraction contained in this subparagraph produce a result that is more than one. The $140,000 amount used to calculate the numerator in this subparagraph must be adjusted for inflation in accordance with section 5403, subsection 3 4.

For purposes of this paragraph, “taxpayer base” means either the taxpayer???s applicable standard deduction amount for the taxable year determined under section 5124-B or, if itemized deductions are claimed, the taxpayer???s itemized deductions claimed for the taxable year determined under section 5125.

This paragraph does not apply to a resident individual who has claimed itemized deductions from federal adjusted gross income in determining the individual’s federal taxable income for the taxable year determined under section 5125.

Sec. 2. 36 MRSA 5125, sub- 2, as amended by PL 2013, c. 368, Pt. TT, 10 and affected by 20, is further amended to read:

2. Spouses. Spouses, both of whom are required to file returns under this Part, are allowed to claim itemized deductions from Maine adjusted gross income only if both do so. Their total itemized deductions from federal adjusted gross income, as modified by subsection 3, may be taken by either spouse or divided between them, as they may elect, if their federal income tax is determined on a joint return but their tax under this Part is determined on separate returns. The total itemized deductions from Maine adjusted gross income claimed on a return may not exceed the limitation amount in subsection 4.

Sec. 3. 36 MRSA 5125, sub- 4, as amended by PL 2013, c. 595, Pt. T, 1 and affected by 2, is repealed.

Sec. 4. 36 MRSA 5403, sub- 3, as enacted by PL 2015, c. 267, Pt. DD, 33, is repealed.

summary

This bill allows a resident individual who itemizes deductions in determining federal adjusted gross income to claim those deductions to the full extent allowed under federal law in determining Maine adjusted gross income.

Patterns of Support

Pattern of Cosponsorship by Region:

Pattern of Cosponsorship by Gender:

Pattern of Cosponsorship by Party:

Pattern of Cosponsorship by Campaign Finance Classification:

Note: Maine Clean Elections Act (MCEA) Qualified candidates only accept a small dollar value of initial contributions early in their campaigns, pledge not to accept further campaign contributions from private sources, and receive public funding for their campaigns. MCEA Non-Qualified candidates choose not to obtain public funding and instead are free to accept campaign contributions from individuals, party committees, political action committees and business sources.


This information about LD 1519 was last updated on 2016-05-13.
The Open Maine Politics website is in a beta release and results should not be taken as definitive. Please visit the official website of the Maine State Legislature for entirely verifiable information.

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