| 122nd MAINE LEGISLATURE | |||||||||
| LD 2073 | LR 3203(01) | ||||||||
| An Act To Bring Maine's Sales and Use Tax Law into Conformity with the Streamlined Sales and Use Tax Agreement | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Woodbury of Yarmouth | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $0 | $15,111,833 | $33,214,411 | $34,548,413 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $0 | $470,000 | $0 | $0 | |||||
| Revenue | |||||||||
| General Fund | $0 | ($14,641,833) | ($33,214,411) | ($34,548,413) | |||||
| Other Special Revenue Funds | $0 | ($786,864) | ($1,902,644) | ($2,078,676) | |||||
| Fiscal Detail and Notes | |||||||||
| This bill will reduce Sales and Use Tax revenue by an estimated $15,428,697 in fiscal year 2006-07, resulting in a General Fund revenue loss of $14,641,833. Maine Revenue Services will also require a General Fund appropriation of $470,000 in fiscal year 2006-07 for computer programming and other administrative costs associated with conforming to the Streamline Sales and Use Tax Agreement. | |||||||||