| | | Sec. 3. 36 MRSA §5122, sub-§2, śN is enacted to read: |
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| | | N.__Interest or dividends on obligations or securities of | | this State and its political subdivisions and authorities to | | the extent included in federal adjusted gross income. |
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| | | Sec. 4. Application. That section of this Act that repeals and | | replaces the Maine Revised Statutes, Title 36, section 5122, | | subsection 2, paragraph M applies to tax years beginning on or | | after January 1, 2001. |
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| | | This bill increases the amount of the income tax deduction for | | retirement benefit income received by retired teachers in the | | Maine State Retirement System to $10,000 annually. |
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| | | This bill also corrects a conflict created by Public Law 1999, | | chapters 708 and 731, each of which enacted a new Maine Revised | | Statutes, Title 36, section 5122, subsection 2, paragraph M. | | This bill resolves the conflict by reallocating one of the new | | paragraphs to be the Maine Revised Statutes, Title 36, section | | 5122, subsection 2, paragraph N. |
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