| 122nd MAINE LEGISLATURE | |||||||||
| LD 521 | LR 2104(01) | ||||||||
| An Act To Provide Funding for the New Century Community Program | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Rector of Thomaston | |||||||||
| Committee: State and Local Government | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Current Cost - State Mandate | |||||||||
| Current biennium revenue increase - Other Special Revenue Funds | |||||||||
| State Mandate | |||||||||
| New or Expanded Activity | Unit Affected | Costs | |||||||
| Requiring the Register of Deeds to impose a $3 surcharge for all documents that are recorded in the county registry of deeds except those recorded by agencies of state government and municipalities is a state mandate pursuant to the Constitution of Maine. The additional costs to administer the county surcharge can not be determined at this time. | County | Significant | |||||||
| Fiscal Detail and Notes | |||||||||
| It is estimated that the annualized state revenue derived from the proposed $3 surcharge on certain registry of deeds documents exempting state and municipal filings will be approximately $1,300,000 for fiscal year 2005-06 and 2006-07. This estimate is based on 2003 data and it is anticipated the the Treasurer of State will experience a one month lag in receipt of revenue. | |||||||||
| The New Century Grant Program within the Maine State Cultural Affairs Council will require additional Other Special Revenue Funds allocations of $1,300,000 in fiscal year 2005-06 and $1,300,000 in fiscal year 2006-07 to provide grants to communities. | |||||||||