Simplify Maine Income Tax by Repealing or Terminating Certain Tax Credits

Last updated: May 22, 2017

Details about this bill
Category: Digital Media Production
Status: Defeated
Sponsor: Representative Bruce Bickford, House 63
Session: 128
Bill #: LD 1581

Position:

Monitoring.

UPDATE: The committee voted the bill unanimously Ought Not to Pass. It is dead.

Summary:

This bill does the following.

1. It terminates the availability of the tax credit for wellness programs and repeals the related income tax addition modifications for tax years beginning on or after January 1, 2017, except that unused credit amounts from prior tax years carried forward by the taxpayer may be used.

2. It repeals the certified visual media production tax credit for tax years beginning on or after January 1, 2017 and removes related cross-references to that credit.

3. It repeals the tax credit for disability income protection plans in the workplace for tax years beginning on or after January 1, 2017 and removes related cross-references to that credit.

And other changes. See the bill for additional details.