| 122nd MAINE LEGISLATURE | |||||||||
| LD 613 | LR 0524(02) | ||||||||
| An Act To Provide Tax Incentives to Small Businesses That Employ At Least One Person | |||||||||
| Fiscal Note for Bill as Amended by Committee Amendment " " | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $34,287 | $69,784 | $82,351 | $95,874 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $34,287 | $54,616 | $58,575 | $62,746 | |||||
| Revenue | |||||||||
| General Fund | $0 | ($15,168) | ($23,776) | ($33,128) | |||||
| Other Special Revenue Funds | $0 | ($832) | ($1,304) | ($1,817) | |||||
| Fiscal Detail and Notes | |||||||||
| This bill is expected to reduce General Fund revenue by $15,168 in fiscal year 2006-07 as a result of the changes to the Maine Employment Tax Increment Financing Act. | |||||||||
| This bill includes General Fund appropriations of $34,287 in fiscal year 2005-06 and $54,616 in fiscal year 2006-07 to the Business Development program within the Department of Economic and Community Development for one Clerk III position and related All Other to assist with the additional tracking and record keeping that would be required as a result of this legislation beginning in January 2006. | |||||||||