Sec. V-1. 36 MRSA §5219-S is enacted to read:
A taxpayer is allowed a credit against the taxes otherwise due under this Part equal to 5% of the federal earned income credit for the same taxable year. The credit may not reduce the state income tax to less than zero.
Sec. V-2. Application. This Part applies to tax years beginning on or after January 1, 2000.
Sec. V-3. Appropriation. The following funds are appropriated from the General Fund to carry out the purposes of this Part.
2000-01
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Bureau of Revenue Services
Positions - Legislative Count (1.000)
Personal Services $16,041
All Other 36,725
Provides funds for computer programming costs associated with modifications to the Maine Automated Tax System and for one Tax Examiner position and related costs to audit the eligibility of taxpayers for the earned income credit.
DEPARTMENT OF ADMINISTRATIVE AND FINANCIAL SERVICES _______
TOTAL $52,766
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