| 123rd MAINE LEGISLATURE | ||||||
| LD 529 | LR 1143(01) | |||||
| An Act To Encourage Newly Retired Veterans To Reside in Maine | ||||||
| Fiscal Note for Original Bill | ||||||
| Sponsor: Rep. Watson of Bath | ||||||
| Committee: Taxation | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| 2007-08 | 2008-09 | Projections 2009-10 | Projections 2010-11 | |||
| Net Cost (Savings) | ||||||
| General Fund | $371,237 | $506,742 | $753,490 | $1,023,370 | ||
| Appropriations/Allocations | ||||||
| General Fund | $11,000 | $0 | $0 | $0 | ||
| Revenue | ||||||
| General Fund | ($360,237) | ($506,742) | ($753,490) | ($1,023,370) | ||
| Other Special Revenue Funds | ($19,760) | ($27,796) | ($41,331) | ($56,134) | ||
| Fiscal Detail and Notes | ||||||
| Exempting from the state income tax certain military retitrement benefits will reduce General Fund revenue by an estimated $360,237 in fiscal year 2007-08 and $506,742 in fiscal year 2008-09. Maine Revenue Services will also require a one-time General Fund appropriation of $11,000 in fiscal year 2007-08 for the related computer programming costs | ||||||