An Act To Exempt All Disabled Veterans in Maine from All Income Tax and To Increase Their Homestead Exemption to $50,000
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 36 MRSA §683, sub-§1-B, as enacted by PL 2015, c. 267, Pt. J, §1, is amended to read:
1-B. Additional exemption. A homestead eligible for an exemption under subsection 1 is eligible for an additional exemption of $5,000 of the just value of the homestead for property tax years beginning on April 1, 2016 and of , $10,000 of the just value of the homestead for property tax years beginning on or after April 1, 2017 and, for property tax years beginning on or after April 1, 2020, $40,000 of the just value of the homestead of a veteran of the United States Army, Navy, Air Force, Marines or Coast Guard who is receiving disability compensation from the United States Government due to a service-connected disability.
Sec. 2. 36 MRSA §5122, sub-§2, ¶QQ is enacted to read:
QQ. For tax years beginning on or after January 1, 2019, all income received by a veteran of the United States Army, Navy, Air Force, Marines or Coast Guard who is receiving disability compensation from the United States Government due to a service-connected disability.
summary
This bill increases the homestead exemption to $50,000 for veterans of the United States Army, Navy, Air Force, Marines or Coast Guard who are receiving disability compensation from the United States Government due to a service-connected disability and provides an income tax deduction for all income of those individuals.