An Act To Provide an Income Tax Credit for Certain Student Loan Repayments
Maine Legislature, Session 129, LD 0073
Committee Amendment CA_A_S219 (Senate)
Amends: 36 MRSA §5122

COMMITTEE AMENDMENT "Pr" to S.P. 26, L.D. 73, Bill, "An Act To Provide 
an Income Tax Credit for Certain Student Loan Repayments" 
Amend the bill by striking out the title and substituting the following: 
'An Act To Provide an Income Tax Deduction for Certain Student Loan Payments 
Made Directly to a Lender on Behalf of a Taxpayer' 
Amend the bill by striking out everything after the enacting clause and inserting the 
following: 
'Sec. 1. 36 MRSA §5122, sub-§2, 1QQ is enacted to read: 
00. To the extent included in federal adjusted gross income, student loan payments 
made directly to a lender on behalf of the taxpayer by a student loan repayment 
program funded by a nonprofit foundation and administered by the Finance Authority 
of Maine for residents of the State employed by a business located in the State. 
Sec. 2. Application. This Act applies to tax years beginning on or after January 1, 
2020. 
Sec. 3. Appropriations and allocations. The following appropriations and 
allocations are made. 
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF 
Revenue Services, Bureau of 0002 
Initiative: Provides one-time funding for computer programming costs to update 
individual income tax forms. 
GENERAL FUND 
All Other 
2019-20 
$11,000 
COMMITTEE AMENDMENT 
2020-21 
$0 
COMMIITEE AMENDMENT " f\" to S.P. 26, L.D. 73 ( (, · ,:) \ (. \) 
_,/ 
GENERAL FUND TOTAL 
$11,000 
$0 
Amend the bill by relettering or renumbering any nonconsecutive Part letter or 
section number to read consecutively. 
s 
SUMMARY 
This amendment strikes the provisions of the bill and provides an income tax 
deduction for student loan payments made directly to a lender on behalf of a taxpayer by 
a student loan repayment program funded by a nonprofit foundation and administered by 
the Finance Authority of Maine for residents of the State employed by a business located 
in the State. The amendment also adds an appropriations and allocations section. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 05/30/19 feac;. 
LD73 
LR 581(02) 
An Act To Provide an Income Tax Credit for Certain Student Loan Repayments 
Fiscal Note for Bill as Amended by Committee Amendment 'W' lS ,J \ C0 
, 
Committee: Taxation 
Net Cost (Savings) 
General Fund 
lppropriations/ Allocations 
General Fund 
Revenue 
General Fund 
Other Special Revenue Funds 
Fiscal Detail and Notes 
Fiscal Note Required: Yes 
Fiscal Note 
FY 2019-20 
$11,000 
$11,000 
$0 
$0 
FY 2020-21 
$21,375 
$0 
($21,375) 
($1,125) 
Projections 
FY2021-22 
$41,800 
$0 
($41,800) 
($2,200) 
Projections 
FY 2022-23 
$49,400 
$0 
($49,400) 
($2,600) 
The bill provides an income tax deduction for certain student loan payments and would result in a reduction in 
General Fund revenue of $21,375 and a reduction in Local Government Fund revenue of $1,125 in fiscal year 2020-
21. The bill includes a General Fund appropriation of $11,000 in fiscal year 2019-20 to the Department of 
Administrative and Financial Services for computer programming costs to update individual income tax fonns. 
LR0581(02) - Fiscal Note - Page 1 of 1