123rd MAINE LEGISLATURE
		LD 789		LR 800(01)
	An Act To Decrease the Excise Tax Imposed on Motor Vehicles
	Fiscal Note for Original Bill
	Sponsor: Rep. Sirois of Turner
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			2007-08	2008-09	Projections 2009-10	Projections 2010-11
Net Cost (Savings)
	General Fund		$18,750	$25,000	$25,000	$25,000
Revenue
	General Fund		($18,750)	($25,000)	($25,000)	($25,000)
	Other Special Revenue Funds		($150,000)	($200,000)	($200,000)	($200,000)
Fiscal Detail and Notes
	Decreasing the excise tax imposed on motor vehicles will reduce general Fund revenue by an estimated $18,750 in fiscal year 2007-08 and $25,000 in each fiscal year thereafter.   The decrease in the motor vehicle excise tax will also result in the loss of dedicated revenue collected by the Secretary of State; the estimated amounts are $150,000 in fiscal year 2007-08 and $200,000 in each fiscal year thereafter.
	The administrative costs associated with the change in excise tax can be absorbed by Maine Revenue Services utilizing existing budgeted resources.