| 123rd MAINE LEGISLATURE | ||||||
| LD 402 | LR 2235(01) | |||||
| An Act To Clarify the Application of the Real Estate Transfer Tax with Regard to Partial Sales of Corporations That Own Real Estate | ||||||
| Fiscal Note for Original Bill | ||||||
| Sponsor: Rep. Cressey of Cornish | ||||||
| Committee: Taxation | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| 2007-08 | 2008-09 | Projections 2009-10 | Projections 2010-11 | |||
| Net Cost (Savings) | ||||||
| General Fund | $39,825 | $53,100 | $54,693 | $56,334 | ||
| Revenue | ||||||
| General Fund | ($39,825) | ($53,100) | ($54,693) | ($56,334) | ||
| Fiscal Detail and Notes | ||||||
| Changing the basis upon which the Real Estate Transfer Tax is determined will reduce General Fund revenue by an estimated $39,825 in fiscal year 2007-08 and $53,100 in fiscal year 2008-09 based on an October 1, 2007 effective date. | ||||||