| 122nd MAINE LEGISLATURE | |||||||||
| LD 1617 | LR 2262(01) | ||||||||
| An Act To Reduce Tobacco Use and Improve Health | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Cummings of Portland | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $7,386,922 | ($23,392,166) | ($22,963,623) | ($22,512,029) | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $76,566,000 | $76,497,000 | $76,497,000 | $76,497,000 | |||||
| Revenue | |||||||||
| General Fund | $69,179,078 | $99,889,166 | $99,460,623 | $99,009,029 | |||||
| Other Special Revenue Funds | $80,357 | $118,089 | $121,770 | $123,455 | |||||
| Fiscal Detail and Notes | |||||||||
| Increasing the cigarette tax by $1.50 to $2.50 per package of 20 cigarettes will increase General Fund revenue by $69,179,078 in fiscal year 2005-06 and $99,889,166 in fiscal year 2006-07. Maine Revenue Services will require a one-time General Fund appropriation of $69,000 in fiscal year 2005-06 to support the administrative costs associated with this change. This estimate is based on an October 1, 2005 effective date for the tax increase. In addition, assumes the bill's identified allocations are provided in the form of General Fund appropriations. | |||||||||