Printed on recycled paper 132nd MAINE LEGISLATURE FIRST REGULAR SESSION-2025 Legislative Document No. 1089H.P. 711House of Representatives, March 18, 2025 An 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 Received by the Clerk of the House on March 14, 2025. Referred to the Committee on Taxation pursuant to Joint Rule 308.2 and ordered printed pursuant to Joint Rule 401. ROBERT B. HUNT Clerk Presented by Representative GOLEK of Harpswell. Cosponsored by Senator TIPPING of Penobscot and Representatives: BRIDGEO of Augusta, Speaker FECTEAU of Biddeford, FRIEDMANN of Bar Harbor, GATTINE of Westbrook, OSHER of Orono, RANA of Bangor, SALISBURY of Westbrook, Senator: DUSON of Cumberland. Page 1 - 132LR1823(01) 1 2 is enacted to read: 3 4 and administered as follows. 5 A. For tax years beginning on or after January 1, 2025, in addition to any other tax 6 imposed by this chapter, a surcharge at the rate of 4% is imposed on that portion of the 7 taxpayer's Maine taxable income in excess of $1,000,000. 8 B. All revenue collected under this subsection must be used to fund public 9 prekindergarten to grade 12 education. 10 11 This bill imposes an income tax surcharge of 4% on that portion of a taxpayer's Maine 12 taxable income in excess of $1,000,000 to fund public prekindergarten to grade 12 13 education. 11 12 13