131st MAINE LEGISLATURE
LD 1060 LR 132(02)
An Act to Support Municipal Public Safety by Increasing State-Municipal Revenue Sharing to 7 Percent
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
Fiscal Note Required: Yes
             
Fiscal Note
FY 2023-24 FY 2024-25 Projections  FY 2025-26 Projections  FY 2026-27
Net Cost (Savings)
General Fund $74,669,858 $102,906,849 $107,562,202 $116,172,878
Revenue
General Fund ($74,669,858) ($102,906,849) ($107,562,202) ($116,172,878)
Other Special Revenue Funds $74,669,858 $102,906,849 $107,562,202 $116,172,878
Fiscal Detail and Notes
This bill increases the revenue sharing percentage from 5% to 7%. Assuming an effective date of October 1, 2023, this will reduce General Fund Revenue by $74,669,858 in fiscal year 2023-24 and $102,906,849 in fiscal year 2024-25, with corresponding increases in Local Government Fund revenue. The additional funding is to be used by municipalities for emergency fire and medical services and law enforcement.