| 122nd MAINE LEGISLATURE | |||||||||
| LD 1011 | LR 0919(02) | ||||||||
| An Act To Establish the Maine Taxpayers' Bill of Rights | |||||||||
| Fiscal Note for Bill as Amended by Committee Amendment " " | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Undetermined net fiscal impact - General Fund | |||||||||
| Undetermined net fiscal impact - Highway Fund | |||||||||
| Undetermined net fiscal impact - Other Funds | |||||||||
| Fiscal Detail and Notes | |||||||||
| This legislation imposes limitations on state and local government expenditures, requires legislative and voter approval for certain tax and fee increases, modifies the distribution of General Fund year-end unappropriated surplus, proposes to return a portion of excess revenue each year from the General Fund to taxpayers and establishes a similar process for the Highway Fund by creating a Highway Budget Stabilization Fund. | |||||||||
| The growth rate limitations for state and local government expenditures may result in future reductions of expenditures. For the General Fund, which is currently subject to statutory spending limitations, the limitations are more restrictive because the limitation is based on prior year's expenditures and not the appropriation limit and the limitation does not allow for the growth of General Purpose Aid for Local Schools above the limitation. However, based on current projections of the economic variables involved and the amount of General Fund appropriations and Highway Fund allocations enacted through the 122nd Legislature, 1st Regular Session, General Fund and Highway Fund budgeted amounts for the 2006-2007 biennium are within the growth limits of this bill. If expeditures in fiscal year 2004-05 or fiscal year 2005-06 are below budgeted amounts, downward adjustments to General Fund appropriations or Highway Fund allocations may be required for subsequent years. The impact on General Fund and Highway Fund budgets in the 2008-2009 biennium can not be determined at this time. | |||||||||
| The net impact of the provisions of this bill on other state funds, quasi-governmental agencies and local units of government can not be determined at this time. | |||||||||
| This bill also requires the State to reimburse municipalities for certain election costs. The estimated reimbursement costs for each statewide election are estimated to be $830,000, which includes $400,000 for municipal costs for each statewide general election and $430,000 for required statewide mailings. The amounts and timing of the additional General Fund apprpropriations required will depend on the number of instances in which reimbursable elections take place and can not be determined at this time. | |||||||||