129th MAINE LEGISLATURE
		LD 162		LR 167(03)
	An Act To Eliminate the State Income Tax on Maine Public Employees Retirement System Pensions
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2019-20	FY 2020-21	Projections  FY 2021-22	Projections  FY 2022-23
Net Cost (Savings)
	General Fund		$0	$7,037,250	$13,015,000	$18,430,000
Appropriations/Allocations
	General Fund		$0	$11,000	$0	$0
Revenue
	General Fund		$0	($7,026,250)	($13,015,000)	($18,430,000)
	Other Special Revenue Funds		$0	($273,750)	($685,000)	($970,000)
Fiscal Detail and Notes
	The bill creates an income tax deduction for civil service retirement plan benefits and will reduce General Fund revenue by $7,026,250 in fiscal year 2020-21 and reduce Local Government Fund revenue by $273,750 in fiscal year 2020-21. The bill includes a one-time General Fund appropriation to the Department of Administrative and Financial Services of $11,000 in fiscal year 2020-21 for computer programming costs to add an additional line to the individual income tax form.