(ld23)S.P. 31 - L.D. 23 (130th Legislature, 2022): An Act To Reinstate and Increase the Income Tax Deduction for Contributions to Education Savings Plans#
(ld23)(document-1)#
Page 1 - 130LR0175(05) STATE OF MAINE _____ IN THE YEAR OF OUR LORD TWO THOUSAND TWENTY-TWO _____ S.P. 31 - L.D. 23 An Act To Reinstate and Increase the Income Tax Deduction for Contributions to Education Savings Plans Be it enacted by the People of the State of Maine as follows: Sec. 1. 36 MRSA §5122, sub-§2, ¶YY is enacted to read: YY. For taxable years beginning on or after January 1, 2023, the portion of contributions to a qualified tuition program established under Section 529 of the Code up to $1,000 per designated beneficiary. This deduction may not be claimed when federal adjusted gross income exceeds $100,000 for a single individual and married persons filing separate returns or $200,000 for individuals filing married joint returns and heads of households. APPROVED MAY 3, 2022 BY GOVERNOR CHAPTER 707 PUBLIC LAW