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Bill > LD48
ME LD48
ME LD48An Act to Update References to the United States Internal Revenue Code of 1986 Contained in the Maine Revised Statutes
summary
Introduced
01/06/2025
01/06/2025
In Committee
01/06/2025
01/06/2025
Crossed Over
04/03/2025
04/03/2025
Passed
06/25/2025
06/25/2025
Dead
Signed/Enacted/Adopted
07/01/2025
07/01/2025
Introduced Session
132nd Legislature
Bill Summary
An Act to Update References to the United States Internal Revenue Code of 1986 Contained in the Maine Revised Statutes Emergency preamble. Whereas, acts and resolves of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and Whereas, state tax law needs to be updated to conform to federal law before the 90- day period expires to avoid delay in the processing of income tax returns for 2024; and Whereas, legislative action is immediately necessary to ensure continued and efficient administration of the state income tax and certain other state taxes; and Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,
AI Summary
This bill updates Maine's state tax law to align with the most recent version of the United States Internal Revenue Code (IRC). Specifically, the bill changes the reference date for the IRC from December 31, 2023 to December 31, 2024, ensuring that Maine's tax statutes conform to the latest federal tax regulations. This update is crucial for the efficient processing of income tax returns for the 2024 tax year and helps maintain consistency between state and federal tax codes. The bill is classified as an emergency measure, which means it will take effect immediately upon approval, allowing state tax authorities to apply the new IRC references without waiting for the standard 90-day legislative review period. The changes apply to tax years beginning on or after January 1, 2024, and may also retroactively apply to prior tax years as specified by the federal tax code.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Governor's Action: Emergency Signed, Jul 1, 2025 (on 07/01/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.maine.gov/legis/bills/display_ps.asp?LD=48&snum=132 |
| BillText | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0012&item=3&snum=132 |
| Fiscal Note: | https://legislature.maine.gov/legis/bills/bills_132nd/fiscalpdfs/FN004803.pdf |
| Fiscal Note: C-A (H-36) | https://legislature.maine.gov/legis/bills/bills_132nd/fiscalpdfs/FN004802.pdf |
| House: C-A (H-36) | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0012&item=2&snum=132 |
| Fiscal Note: Text | https://legislature.maine.gov/legis/bills/bills_132nd/fiscalpdfs/FN004801.pdf |
| BillText | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0012&item=1&snum=132 |
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