| 123rd MAINE LEGISLATURE | ||||||
| LD 1529 | LR 1728(01) | |||||
| An Act To Create a Scholarship Grant Organization Tax Credit | ||||||
| Fiscal Note for Original Bill | ||||||
| Sponsor: Sen. Sherman of Aroostook | ||||||
| Committee: Taxation | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| Current biennium revenue decrease - General Fund Current biennium cost increase - General Fund |
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| Fiscal Detail and Notes | ||||||
| The General Fund revenue loss associated with the scholarship grant organization tax credit is estimated to be $3,000,000 to $7,000,000, annually. In addition, Maine Revenue Services will require a General Fund appropriation of 28,290 in fiscal year 2007-08 and $21,580 in fiscal year 2008-09 for the administrative costs associated with the credit, including funds for a part-time Tax Examiner position. | ||||||