| 122nd MAINE LEGISLATURE | |||||||||
| LD 700 | LR 0692(02) | ||||||||
| An Act To Provide Tax Benefits for Sale of Leased Land Used as a Primary Residence | |||||||||
| 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 | $38,573 | $9,901 | $10,385 | $10,904 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $30,000 | $0 | $0 | $0 | |||||
| Revenue | |||||||||
| General Fund | ($8,573) | ($9,901) | ($10,385) | ($10,904) | |||||
| Other Special Revenue Funds | ($461) | ($532) | ($570) | ($598) | |||||
| Fiscal Detail and Notes | |||||||||
| This bill is expected to reduce General Fund revenue by $8,573 in fiscal year 2005-06 and $9,901 in fiscal year 2006-07 as a result of an income tax exemption for certain capital gains. It also includes a one-time General Fund appropriation in fiscal year 2005-06 for Maine Revenue Services for the additional computer programming costs associated with this change. | |||||||||