‘Sec. 1. 36 MRSA §5219-FF is enacted to read:
§ 5219-FF. Senior credit
For a taxpayer who has reached 65 years of age by the end of a taxable year, a credit is allowed in the following amount.
1. Phase-in of credit. The credit is equal to the following percentage of the tax that would otherwise be due under this Part after the application of all other credits.
A. For tax years beginning in 2014, the credit is 10%.
B. For tax years beginning in 2015, the credit is 20%.
C. For tax years beginning in 2016, the credit is 30%.
D. For tax years beginning in 2017, the credit is 40%.
E. For tax years beginning in or after 2018, the credit is 50%.
2. Married persons filing jointly. For married persons filing jointly, if only one of the persons has reached 65 years of age by the end of the taxable year, the credit is equal to 1/2 of the amount calculated under subsection 1.’