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Digest
of New Legislation
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of June 14, 2007, the Maine State Chamber
has tracked
563 business-related bills since
the start of this
session. Below are this week's bills of
interest. For a
complete list, please email melanieb@mainechamber.org.
Maine Chamber staff have studied each of these recently printed bills to assess potential impact on business trends. If you have concerns regarding any bill, please communicate those concerns to a member of our governmental services staff at (207) 623-4568.
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on the topic below to skip directly to that
section:
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Bond Issues
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Budget and Finance
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Business Regulation
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Economic Development
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Education
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Environmental
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Financial
Services
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Government
Spending/Reform
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Health Care
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Insurance
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Judiciary
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Labor
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Legal and Veterans’
Affairs
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Miscellaneous
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Overtime
Pay
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Taxation
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LD
1925, An Act to Cut Taxes on Maine Residents by over $140,000,000. (Introduced by the Joint Standing Committee on Taxation) Joint Standing Committee on Taxation. This is the so-called tax reform package which has been developed by the Taxation Committee over this legislative session. This bill was summarized at length in last week’s IMPACT. In short, it proposes to create a flat individual income tax of 6% and to eliminate all personal exemptions and deductions. They would be replaced by a new system of credits. The bill would seek to provide property tax relief by increasing the homestead exemption from $13,000 to $26,000, with one-half of the revenue loss reimbursed by the state. And to fund the income tax changes, it would extend the sales tax to hundreds of services which are not now taxed, repeal certain sales tax exemptions, increase the meals and lodging tax, reinstitute the “snack tax” and increase the sales tax on short-term auto rentals.
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Transportation
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Unemployment
Insurance
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Utilities and Energy
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Workers’ Compensation
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