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122nd MAINE LEGISLATURE |
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LD 972 |
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LR 1178(06) |
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An Act
To Exempt Military Pensions for Future Military Retirees from State Income
Tax |
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Fiscal Note for Senate Amendment " " to Committee Amendment " " |
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Sponsor: Sen. Perry |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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Projections |
Projections |
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2005-06 |
2006-07 |
2007-08 |
2008-09 |
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| Net Cost
(Savings) |
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General Fund |
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$3,198,089 |
$8,093,420
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$8,330,603
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$8,579,397
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| Revenue |
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General Fund |
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($3,198,089) |
($8,093,420) |
($8,330,603) |
($8,579,397) |
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Other Special Revenue Funds |
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($171,768) |
($434,588) |
($456,952) |
($470,600) |
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| Fiscal Detail
and Notes |
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Exempting
military retirement plan income for all military retirees from the income tax
is expected to reduce General Fund revenue by $3,198,089 in fiscal year
2005-06 and $8,093,420 in fiscal year 2006-07. |
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