In Re Connors

Memorandum, of Decision

JAMES B. HAINES, JR., Bankruptcy Judge.

This matter, submitted for decision on a stipulated record, presents a discrete question: Are funds received by Maine debtors in consequence of the federal Earned Income Tax Credit (“EITC”) and the Child Tax Credit (“CTC”) 1 exempt assets under Bankruptcy Code § 522(b)(2) 2 and Maine law? Notwithstanding strong policy arguments to the contrary, I conclude that the applicable statutes do not bestow exempt status on such funds. Accordingly, I -will sustain the bankruptcy trustee’s objection to the debtors’ exemption claims.

Background

D…