Establishes a 4% income tax surcharge on Maine taxable income over $1,000,000 to fund public education.

This bill introduces a 4% income tax surcharge on Maine taxable income exceeding $1,000,000, effective for tax years starting after January 1, 2025. The surcharge is intended to generate revenue specifically for funding public prekindergarten to grade education. All collected revenue from this surcharge must be allocated to support these educational levels.

Establishes a 4% income tax surcharge on Maine taxable income over $1,000,000 to fund public education.

This bill introduces a 4% income tax surcharge on Maine taxable income exceeding $1,000,000, effective for tax years starting after January 1, 2025. The surcharge is intended to generate revenue specifically for funding public prekindergarten to grade education. All collected revenue from this surcharge must be allocated to support these educational levels.