Maine Governor's Proposed Supplemental Budget
Tuesday, January 26, 2021 Maine Governor Janet Mills submitted a supplemental budget, as amended by a change package submitted on January 25, 2021. The supplemental budget is notable for its retroactive conformity to the Internal Revenue Code (IRC) as of December 31, 2020, and for its nonconformity to significant tax relief provisions enacted as part of the CARES Act and the Consolidated Appropriations Act, 2021 (CAA). Of particular significance, the supplemental budget would decouple from the portion of these federal laws that excludes the forgiven portion of a Paycheck Protection...