| 123rd MAINE LEGISLATURE | ||||||
| LD 954 | LR 561(01) | |||||
| An Act To Reduce the Sales Tax on Business Energy | ||||||
| Fiscal Note for Original Bill | ||||||
| Sponsor: Sen. Courtney of York | ||||||
| Committee: Taxation | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| 2007-08 | 2008-09 | Projections 2009-10 | Projections 2010-11 | |||
| Net Cost (Savings) | ||||||
| General Fund | $8,669,840 | $11,347,560 | $11,916,360 | $12,523,080 | ||
| Appropriations/Allocations | ||||||
| General Fund | $62,000 | $0 | $0 | $0 | ||
| Revenue | ||||||
| General Fund | ($8,607,840) | ($11,347,560) | ($11,916,360) | ($12,523,080) | ||
| Other Special Revenue Funds | ($472,160) | ($622,440) | ($653,640) | ($686,920) | ||
| Fiscal Detail and Notes | ||||||
| Reducing the sales tax on electricity and fuel to businesses will reduce General Fund revenue by an estimated $8,607,840 in fiscal year 2007-08 and $11,347,560 in fiscal year 2008-09. Maine Revenue Services will also require a one-time General Fund appropriation of $62,000 in fiscal year 2007-08 for the administrative costs associated with this change. | ||||||