Bill > LD366

This bill modifies the definition of "military retirement plan" in Maine state tax law to expand the scope of retirement benefits that can be claimed by retired military service members. Specifically, the bill changes the definition to include retirement plan benefits from all uniformed services as defined in the United States Code, rather than just the previously listed branches (Army, Navy, Air Force, Marines, Coast Guard, and Space Force). This change will take effect for tax years beginning on or after January 1, 2026, which means that retired members of other uniformed services not previously included will now be eligible for the same income tax deductions as those from the originally specified military branches. The amendment aims to create more consistency and fairness in tax treatment for retired military personnel across different types of uniformed service.

Budget and Finance

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=366&snum=132