Maine LD 409: An Act To Lower the Individual Income Tax Incrementally to Zero

LD 409 (subjects: INCOME TAX , PROVISIONS REVISED )

Official bill page at mainelegislature.org: http://www.mainelegislature.org/legis/bills/display_ps.asp?ld=409&PID=1456&snum=127


Sponsors | Actions | Bill Text | Patterns of Support


Sponsors

Principal Sponsor: Rep. Beth O’Connor of Berwick: (R – District 5) — e-mail | Facebook

9 Cosponsors:

Actions

Chamber

Action
2/12/2015 House Committee on Taxation suggested and ordered printed.
The Bill was REFERRED to the Committee on TAXATION.
Sent for concurrence. ORDERED SENT FORTHWITH.
2/12/2015 Senate On motion by Senator McCormick of Kennebec, REFERRED to the Committee on Taxation, in concurrence.
5/28/2015 House Reports READ.
Representative GOODE of Bangor moved to ACCEPT the Majority Ought Not to Pass Report.
On further motion of the same Representative TABLED pending his motion to ACCEPT the Majority Ought Not to Pass Report.
Later today assigned. (Roll Call Ordered)

5/28/2015 House Unfinished Business
5/29/2015 House Unfinished Business
6/1/2015 House Unfinished Business
6/2/2015 House Unfinished Business
6/3/2015 House Unfinished Business
6/4/2015 House Unfinished Business
6/5/2015 House Unfinished Business
6/8/2015 House Speaker laid before the House
Subsequently, the Majority Ought Not to Pass Report was ACCEPTED.
ROLL CALL NO. 172
(Yeas 82 – Nays 63 – Absent 6 – Excused 0)
Sent for concurrence. ORDERED SENT FORTHWITH.
6/9/2015 Senate Reports READ.
On motion by Senator McCORMICK of Kennebec the Majority Ought Not to Pass Report ACCEPTED, in concurrence.
Placed in the Legislative Files (DEAD).

Bill Text

.

An Act To Lower the Individual Income Tax Incrementally to Zero

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

Sec. 1. 36 MRSA 5111, sub- 6 is enacted to read:

6. Incremental reduction. For tax years beginning on or after January 1, 2016, taxes calculated under subsections 1-D, 2-D or 3-D are reduced by 25%.

A. Beginning in 2017, the State Tax Assessor shall determine annually by September 15th whether General Fund revenue received in the previous fiscal year exceeds the General Fund revenue received in fiscal year 2014-15. If the State Tax Assessor determines that General Fund revenue received in the preceding fiscal year exceeds the General Fund revenue received in fiscal year 2014-15, the tax due under this section for tax years beginning on or after January 1st of the succeeding calendar year is reduced by 50%.
B. Beginning in the year following implementation of a reduction in taxes under paragraph A, the State Tax Assessor shall determine by September 15th whether General Fund revenue received in the previous fiscal year exceeds the General Fund revenue received in the fiscal year preceding the fiscal year in which the reduction under paragraph A first took effect. If the State Tax Assessor determines that General Fund revenue received in the preceding fiscal year exceeds the General Fund revenue received in the fiscal year preceding when the reduction under paragraph A first took effect, the tax due under this section for tax years beginning on or after January 1st of the succeeding calendar year is reduced by 75%.
C. Beginning in the year following implementation of a reduction in taxes under paragraph B, the State Tax Assessor shall determine by September 15th whether General Fund revenue received in the previous fiscal year exceeds the General Fund revenue received in the fiscal year preceding the fiscal year in which the reduction under paragraph B first took effect. If the State Tax Assessor determines that General Fund revenue received in the preceding fiscal year exceeds the General Fund revenue received in the fiscal year preceding when the reduction under paragraph B first took effect, the tax due under this section for tax years beginning on or after January 1st of the succeeding calendar year is reduced by 100%.

Sec. 2. Legislation implementing reduction of individual income tax. By January 1, 2016, the Department of Administrative and Financial Services, Bureau of Revenue Services shall submit to the Joint Standing Committee on Taxation any draft legislation necessary to implement the incremental reduction to the individual income tax as provided in this Act. The committee may report out legislation to implement this Act to the Second Regular Session of the 127th Legislature.

SUMMARY

This bill provides for the phase-out of the individual income tax.

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 409 was last updated on 2016-05-12.
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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