LD1047 • 2025

An Act to Impose an Additional Tax on Certain Unearned Income

Taxes

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: Representative Grayson Lookner
Last action: 2025-05-28
Official status: Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act to Impose an Additional Tax on Certain Unearned Income

An Act to Impose an Additional Tax on Certain Unearned Income Sponsor: Representative Grayson Lookner Reference committee: Taxation Latest committee action: Reported Out; ONTP

What This Bill Does

An Act to Impose an Additional Tax on Certain Unearned Income Sponsor: Representative Grayson Lookner Reference committee: Taxation Latest committee action: Reported Out; ONTP

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2025-05-28 Senate
Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)
2025-05-27 Committee
Reported Out; ONTP
2025-05-21 Committee
Work Session Held
2025-05-21 Committee
Voted; ONTP
2025-05-15 Committee
Work Session Held; TABLED
2025-04-10 Committee
Work Session Held; TABLED
2025-03-21 House
Carried over, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.
2025-03-12 Committee
Referred to Committee on Taxation.

Official Summary Text

An Act to Impose an Additional Tax on Certain Unearned Income
Sponsor:
Representative Grayson Lookner
Reference committee:
Taxation
Latest committee action:
Reported Out; ONTP

Current Bill Text

Read the full stored bill text

Printed on recycled paper
132nd MAINE LEGISLATURE
FIRST REGULAR SESSION-2025
Legislative Document No. 1047
H.P. 676 House of Representatives, March 14, 2025
An Act to Impose an Additional Tax on Certain Unearned Income
Received by the Clerk of the House on March 12, 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 LOOKNER of Portland.
Cosponsored by Senator TEPLER of Sagadahoc and
Representatives: BECK of South Portland, DHALAC of South Portland, FRIEDMANN of Bar
Harbor, GATTINE of Westbrook, HASENFUS of Readfield, MATLACK of St. George,
ROEDER of Bangor, Senator: TIPPING of Penobscot.

Page 1 - 132LR1999(01)
1Be it enacted by the People of the State of Maine as follows:
2Sec. 1. 36 MRSA §5204-C is enacted to read:
3§5204-C. Additional tax on capital gains
4 For tax years beginning on or after January 1, 2025, in addition to any other tax
5 imposed by this Part, a tax at the rate of 4% is imposed on income derived from capital
6 gains over the following amounts:
71. Single and married filing separately. For single individuals and married
8 individuals filing separately, $250,000;
92. Heads of households. For unmarried individuals or legally separated individuals
10 who qualify as heads of households, $375,000; and
113. Individuals filing jointly. For individuals filing married joint returns or surviving
12 spouses permitted to file a joint return, $500,000.
13SUMMARY
14 This bill imposes an additional tax of 4% on capital gains above $250,000, $375,000
15 or $500,000, depending on filing status.
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