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Bill > LD1089
ME LD1089
ME LD1089An Act to Permanently Fund 55 Percent of the State's Share of Education by Establishing a Tax on Incomes of More than $1,000,000
summary
Introduced
03/14/2025
03/14/2025
In Committee
03/14/2025
03/14/2025
Crossed Over
06/16/2025
06/16/2025
Passed
Dead
Introduced Session
132nd Legislature
Bill Summary
This bill imposes an income tax surcharge of 4% on that portion of a taxpayer's Maine taxable income in excess of $1,000,000 to fund public prekindergarten to grade 12 education.
AI Summary
This bill introduces a new 4% income tax surcharge specifically targeting individuals with annual Maine taxable income exceeding $1,000,000, which will be implemented starting January 1, 2025. The additional tax is designed to generate dedicated funding for public education, specifically for prekindergarten through 12th grade programs. By establishing this targeted tax on high-income earners, the bill aims to provide a stable and consistent revenue stream to support the state's education system, ensuring that 55% of the state's education costs will be permanently funded through this new income tax mechanism. The surcharge would be added on top of existing state income tax rates, meaning that only the income above $1,000,000 would be subject to the additional 4% tax rate, with all revenue collected from this surcharge being directly allocated to public education funding.
Committee Categories
Budget and Finance
Sponsors (10)
Cheryl Golek (D)*,
Bill Bridgeo (D),
Jill Duson (D),
Ryan Fecteau (D),
Gary Friedmann (D),
Drew Gattine (D),
Laurie Osher (D),
Ambureen Rana (D),
Sue Salisbury (D),
Mike Tipping (D),
Last Action
Unfinished Business (on 02/26/2026)
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=1089&snum=132 |
| BillText | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP0711&item=1&snum=132 |
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