Maine Revised Statutes
Chapter 822: TAX CREDITS
36 §5219-II. Property tax fairness credit

§5219-II. Property tax fairness credit
For tax years beginning on or after January 1, 2013 and before January 1, 2014, a Maine resident individual is allowed a property tax fairness credit as computed under this section against the taxes imposed under this Part.   [PL 2013, c. 551, §2 (AMD).]
1.  Definitions.  As used in this section, unless the context otherwise indicates, the following terms have the following meanings.  
A. "Benefit base" means property taxes paid by the resident individual during the tax year on the individual's homestead in this State or rent constituting property taxes paid by the resident individual during the tax year on a homestead in the State.   [PL 2013, c. 368, Pt. L, §1 (NEW).]
B. "Dwelling" means an individual house or apartment, duplex unit, cooperative unit, condominium unit, mobile home or mobile home pad.   [PL 2013, c. 368, Pt. L, §1 (NEW).]
C. "Homestead" means the dwelling owned or rented by the taxpayer or held in a revocable living trust for the benefit of the taxpayer and occupied by the taxpayer and the taxpayer's dependents as a home, and may consist of a part of a multidwelling or multipurpose building and a part of the land, up to 10 acres, upon which it is built. "Owned" includes a vendee in possession under a land contract, one or more joint tenants or tenants in common and possession under a legally binding agreement that allows the owner of the dwelling to transfer the property but continue to occupy the dwelling as a home until some future event stated in the agreement.   [PL 2013, c. 368, Pt. L, §1 (NEW).]
D. "Rent constituting property taxes" means 25% of the gross rent actually paid in cash or its equivalent during the tax year solely for the right of occupancy of a homestead in the State. "Rent constituting property taxes" does not include rent subsidized by government programs that limit housing costs to a percentage of household income except that this exclusion does not apply to persons receiving social security disability or supplemental security income disability benefits. For the purposes of this paragraph, "gross rent" means rent paid at arm's length solely for the right of occupancy of a homestead, exclusive of charges for any utilities, services, furniture, furnishings or personal property appliances furnished by the landlord as part of the rental agreement, whether or not expressly set out in the rental agreement. If the landlord and tenant have not dealt with each other at arm's length, and the assessor is satisfied that the gross rent charged was excessive, the assessor may adjust the gross rent to a reasonable amount for purposes of this section.   [PL 2013, c. 368, Pt. L, §1 (NEW).]
[PL 2013, c. 368, Pt. L, §1 (NEW).]
2.  Credit.  A resident individual filing a single or married separate return or resident spouses filing joint returns with Maine adjusted gross income up to $40,000 are allowed a credit against the taxes imposed under this Part in an amount equal to 40% of the amount by which the benefit base exceeds 10% of the resident individual's or the resident spouses' total Maine adjusted gross income as defined under section 5102, subsection 1‑C, paragraph A that is greater than zero. The credit may not exceed $300 for resident individuals under 70 years of age as of the last day of the taxable year and $400 for resident individuals 70 years of age and older as of the last day of the taxable year. In the case of married individuals filing a joint return, only one spouse is required to be 70 years of age and older to qualify for the $400 credit limitation. In the case of resident married individuals filing separate returns, each of whom claim the credit on the same homestead, the credit for each spouse may not exceed $150 if, for the taxable year, neither spouse was a resident individual 70 years of age or older or $200 if, for the taxable year, at least one spouse was 70 years of age or older.  
[PL 2013, c. 368, Pt. L, §1 (NEW).]
3.  Refundability of credit.  The tax credit is refundable after the application of nonrefundable credits.  
[PL 2013, c. 368, Pt. L, §1 (NEW).]
Revisor's Note: §5219-II. Maine capital investment credit for 2013 (As enacted by PL 2013, c. 368, Pt. TT, §18 is REALLOCATED TO TITLE 36, SECTION 5219-JJ)
SECTION HISTORY
RR 2013, c. 1, §54 (RAL). PL 2013, c. 368, Pt. L, §1 (NEW). PL 2013, c. 368, Pt. TT, §18 (NEW). PL 2013, c. 551, §2 (AMD).

Structure Maine Revised Statutes

Maine Revised Statutes

TITLE 36: TAXATION

Part 8: INCOME TAXES

Chapter 822: TAX CREDITS

36 §5213. New jobs credit (REPEALED)

36 §5213-A. Sales tax fairness credit

36 §5214. Legislative findings and purpose (REPEALED)

36 §5214-A. Credit to beneficiary for accumulation distribution

36 §5215. Jobs and investment tax credit

36 §5216. Credit for investment in The Maine Capital Corporation or the Maine Natural Resource Capital Company (REPEALED)

36 §5216-A. Credit for investment in the Maine Natural Resource Capital Company (REPEALED)

36 §5216-B. Seed capital investment tax credit

36 §5216-C. Contributions to family development account reserve funds (REPEALED)

36 §5216-D. Maine Fishery Infrastructure Investment Tax Credit Program (REPEALED)

36 §5217. Employer-assisted day care

36 §5217-A. Income tax paid to other taxing jurisdiction

36 §5217-B. Employer-provided long-term care benefits (REPEALED)

36 §5217-C. Employer-provided long-term care benefits on and after January 1, 2000

36 §5217-D. Credit for educational opportunity

36 §5217-E. Student Loan Repayment Tax Credit

36 §5217-F. Employer support for volunteer firefighters and volunteer municipal emergency medical services persons

36 §5218. Income tax credit for child care expenses

36 §5218-A. Income tax credit for adult dependent care expenses

36 §5219. Income tax credit for installation of renewable energy systems (REPEALED)

36 §5219-A. Retirement and disability credit (REPEALED)

36 §5219-B. Conformity credit (REPEALED)

36 §5219-C. Forest management planning income credits (REPEALED)

36 §5219-D. Solid waste reduction investment tax credit (REPEALED)

36 §5219-E. Investment tax credit (REPEALED)

36 §5219-F. Reclaimed wood waste and cedar waste credit (REPEALED)

36 §5219-G. Tax credits for partners, S corporation shareholders and beneficiaries of estates and trusts

36 §5219-H. Application of credits against taxes

36 §5219-I. Nursing home care credit (REPEALED)

36 §5219-J. Catastrophic health expense credit (REPEALED)

36 §5219-K. Research expense tax credit

36 §5219-L. Super credit for substantially increased research and development

36 §5219-M. High-technology investment tax credit

36 §5219-N. Low-income tax credit (REPEALED)

36 §5219-O. Credit for dependent health benefits paid

36 §5219-P. Clean fuel vehicle economic and infrastructure development (REPEALED)

36 §5219-Q. Quality child care investment credit

36 §5219-R. Credit for rehabilitation of historic properties (REALLOCATED FROM TITLE 36, SECTION 5219-Q)

36 §5219-S. Earned income credit

36 §5219-T. Credit for consumption of wood processing residue (REPEALED) (REALLOCATED FROM TITLE 36, SECTION 5219-S)

36 §5219-U. Educational attainment investment tax credit (REPEALED)

36 §5219-V. Recruitment credit (REPEALED)

36 §5219-W. Pine Tree Development Zone tax credit

36 §5219-X. Biofuel commercial production and commercial use

36 §5219-Y. Certified visual media production credit

36 §5219-Z. Tax credit for pollution-reducing boilers (REPEALED)

36 §5219-AA. Community wind power generator credit (REPEALED)

36 §5219-BB. Credit for rehabilitation of historic properties after 2007

36 §5219-CC. Community wind power generator credit (REPEALED)

36 §5219-DD. Dental care access credit (WHOLE SECTION TEXT EFFECTIVE UNTIL 12/31/27) (WHOLE SECTION TEXT REPEALED 12/31/27)

36 §5219-EE. Maine Public Employees Retirement System innovation finance credit (WHOLE SECTION TEXT EFFECTIVE UNTIL 4/16/29) (WHOLE SECTION TEXT REPEALED 4/16/29)

36 §5219-FF. Credit for wellness programs

36 §5219-GG. Maine capital investment credit

36 §5219-HH. New markets capital investment credit

36 §5219-II. Property tax fairness credit

36 §5219-JJ. Maine capital investment credit for 2013 (REALLOCATED FROM TITLE 36, SECTION 5219-II)

36 §5219-KK. Property tax fairness credit for tax years beginning on or after January 1, 2014

36 §5219-LL. Primary care access credit (REALLOCATED FROM TITLE 36, SECTION 5219-KK)

36 §5219-MM. Maine capital investment credit for 2014

36 §5219-NN. Maine capital investment credit for 2015 and after

36 §5219-OO. Credit for disability income protection plans in the workplace

36 §5219-PP. Credit for certain homestead modifications

36 §5219-QQ. Credit for major business headquarters expansions

36 §5219-RR. Tax credit for Maine shipbuilding facility investment

36 §5219-SS. Dependent exemption tax credit

36 §5219-UU. Employer credit for family and medical leave

36 §5219-VV. Credit for major food processing and manufacturing facility expansion

36 §5219-WW. Credit for affordable housing

36 §5219-XX. Renewable chemicals tax credit

36 §5219-YY. Credit for paper manufacturing facility investment

36 §5219-ZZ. Access to justice credit (REALLOCATED FROM TITLE 36, SECTION 5219-YY)