| 123rd MAINE LEGISLATURE | ||||||
| LD 1929 | LR 2694(01) | |||||
| An Act To Assist in the Cleanup of Waste Motor Oil Disposal Sites | ||||||
| Fiscal Note for Original Bill | ||||||
| Committee: Natural Resources | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| 2007-08 | 2008-09 | Projections 2009-10 | Projections 2010-11 | |||
| Net Cost (Savings) | ||||||
| General Fund | $11,000 | $0 | $0 | $0 | ||
| Appropriations/Allocations | ||||||
| General Fund | $11,000 | $0 | $0 | $0 | ||
| Fiscal Detail and Notes | ||||||
| This bill establishes a Waste Motor Oil Site Remediation Program within which is created the Waste Motor Oil Fund to be administered by the Finance Authority of Maine. Increasing the Finance Authority of Maine's revenue obligation securities limit by $35,000,000 extends the moral obligation of the State. Because this legislation provides that monies in the Fund may be used to pay reasonable costs incurred by the authority to administer the fund, the Finance Authority of Maine will not require additional General Fund appropriations. | ||||||
| This bill includes a one-time General Fund appropriation of $11,000 in fiscal year 2007-08 for Maine Revenue Services' costs to administer the premium on oil changes. | ||||||
| The bill also imposes a premium on oil changes. The amount of additional Other Special Revenue Funds revenue for the Waste Motor Oil Fund can not be determined at this time. | ||||||
| Additional costs related to the proposed remediation program can be absorbed by the Departments of Environmental Protection, Transportation and Public Safety utilizing existing budgeted resources. | ||||||