129th MAINE LEGISLATURE
LD 1446 LR 1658(02)
An Act To Remove Sales and Use Taxation on Gold and Silver Coins
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 $332,500 $489,250 $504,450 $520,125
Revenue
General Fund ($332,500) ($489,250) ($504,450) ($520,125)
Other Special Revenue Funds ($17,500) ($25,750) ($26,550) ($27,375)
Fiscal Detail and Notes
The bill provides a sales and use tax exemption for sales of coins with gold or silver content or refined gold or silver bullion and would result in a reduction in General Fund revenue of $332,500 in fiscal year 2019-20 and $489,250 in fiscal year 2020-21.  It would also result in a reduction in Local Government Fund revenue of $17,500 in fiscal year 2019-20 and $25,750 in fiscal year 2020-21.