| 122nd MAINE LEGISLATURE | |||||||||
| LD 632 | LR 0390(01) | ||||||||
| An Act To Lower the Tax Burden for Small Businesses | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Bowen of Rockport | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $8,811,188 | $5,810,771 | $1,381,956 | ($4,478,208) | |||||
| Revenue | |||||||||
| General Fund | ($8,811,188) | ($5,810,771) | ($1,381,956) | $4,478,208 | |||||
| Other Special Revenue Funds | ($483,314) | ($318,735) | ($75,804) | $245,641 | |||||
| Fiscal Detail and Notes | |||||||||
| This bill is expected to reduce General Fund income tax revenue by $8,811,188 in fiscal year 2005-06 and $5,810,771 in fiscal year 2006-07. The Governor's current services budget also includes savings from continuing Maine's nonconformity with federal Section 179 provisions through 2007. | |||||||||