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Gov Mills signs $8 5B budget, which raises school funding

KEEPING PROMISES ON PROPERTY TAX RELIEF Restores revenue sharing: The budget makes good on the state’s commitment to our city, towns, and municipalities by fully investing in revenue sharing by the end of the biennium. This influx in funds to local municipalities will help stabilize property taxes by shifting the cost of essential services off of property taxpayers. The budget raises municipal revenue sharing from 3.75% to 4.5% in Fiscal Year 22 and 5 percent in Fiscal Year 23. Expands Property Tax Fairness Credit to 83,000 Mainers: The budget improved the Property Tax Fairness Credit, providing a one-time boost in the maximum benefit from $750 to $1,000 for income-eligible families, and $1,000 to $1,500 for seniors. The budget permanently changes eligibility for the program to provide property tax relief or rent relief to 83,000 Mainers.

Maine maritime academyUnited statesState of maineUniversity of maineTroy jacksonUniversity of maine systemPermanent commissionMaine community college systemHomestead exemption programSchool breakfastMaine legislatureFinancial affairs committee onSchool revolving renovation fundMaine senateOffice of senateNational school lunch

Legislature sends $8 5B budget, which raises school funding, to Governor s desk

KEEPING PROMISES ON PROPERTY TAX RELIEF Restores revenue sharing: The budget makes good on the state’s commitment to our city, towns, and municipalities by fully investing in revenue sharing by the end of the biennium. This influx in funds to local municipalities will help stabilize property taxes by shifting the cost of essential services off of property taxpayers. The budget raises municipal revenue sharing from 3.75% to 4.5% in Fiscal Year 22 and 5 percent in Fiscal Year 23. Expands Property Tax Fairness Credit to 83,000 Mainers: The budget improved the Property Tax Fairness Credit, providing a one-time boost in the maximum benefit from $750 to $12,000 for income-eligible families, and $1,000 to $1,500 for seniors. The budget permanently changes eligibility for the program to provide property tax relief or rent relief to 83,000 Mainers.

Maine maritime academyUnited statesUniversity of maineTroy jacksonUniversity of maine systemPermanent commissionMaine community college systemHomestead exemption programSchool breakfastMaine legislatureFinancial affairs committee onSchool revolving renovation fundMaine senateOffice of senateNational school lunchLegislature appropriations

Maine House Democrats: Legislature Sends Strong Bipartisan Budget To The Governor s Desk – InsuranceNewsNet

Maine House Democrats: Legislature Sends Strong Bipartisan Budget To The Governor s Desk – InsuranceNewsNet
insurancenewsnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancenewsnet.com Daily Mail and Mail on Sunday newspapers.

Maine maritime academyUnited statesGreely high schoolUniversity of maineCathy breenTroy jacksonRyan fecteauNeal goldbergMichael foleyAnne marie mastraccioJess maurerRick erbMaine council onMaine legislatureNews service pressSenate republican leader timberlake

Governor Mills Signs Bipartisan Supplemental Budget Supporting Maine Businesses & Workers Into Law

Governor Mills Signs Bipartisan Supplemental Budget Supporting Maine Businesses & Workers Into Law
maine.gov - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from maine.gov Daily Mail and Mail on Sunday newspapers.

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Businesses balk at Mills proposal to tax PPP loans

Plans by states, including Maine, to tax PPP loans are creating a backlash from businesses. Under the budget proposal from Gov. Janet Mills, loans proceeds under the federal Paycheck Protection Program would be taxed as ordinary income. States would use such taxes to compensate for revenue lost in other areas in the past year. If that part of the budget is approved, Maine could see revenue of $100 million. The Maine State Chamber of Commerce is among the organizations that have weighed in against that idea, testifying before the state Legislature. Dana Connors, president and CEO of the chamber, part of the original appeal of the PPP was the aspect of it being a tax-free loan at both the federal and state level.

United statesMatthew withamGreg dugalDana connorsStanding committee on appropriationsBangor region chamberPaycheck protection programFinancial affairsMaine state chamberJanet millsJoint standing committeeAct making certain supplemental appropriationsChanging certain provisionsLaw necessaryProper operationsState government