123rd MAINE LEGISLATURE
		LD 1711		LR 2566(01)
	An Act To Reduce the Capital Gains Tax
	Fiscal Note for Original Bill
	Sponsor: Rep. Mills, J. of Farmington
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			2007-08	2008-09	Projections 2009-10	Projections 2010-11
Net Cost (Savings)
	General Fund		($694,222)	($9,031,128)	($14,281,158)	($19,995,695)
Appropriations/Allocations
	General Fund		$91,000	$0	$0	$0
Revenue
	General Fund		$785,222	$9,031,128	$14,281,158	$19,995,695
	Other Special Revenue Funds		($2,668,641)	($3,111,694)	($2,806,226)	($2,474,788)
Fiscal Detail and Notes
	The net General Fund savings generated by the provisions in this bill are estimated to be $694,222 in fiscal year 2007-08 and $9,031,128 in fiscal year 2008-09.  The Governor's proposed budget for the 2008-2009 biennium, LD 499, also includes revenue associated with increases in the cigarette and other tobacco products taxes.  This estimate of fiscal impact may need to be revisited based on final legislative actions on LD 499.