124th MAINE LEGISLATURE
		LD 86		LR 349(02)
	An Act To Conform the Maine Tax Laws for 2008 to the United States Internal Revenue Code
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			2009-10	2010-11	Projections 2011-12	Projections 2012-13
Net Cost (Savings)
	General Fund		$3,389,261	$429,182	$0	$0
Revenue
	General Fund		($3,389,261)	($429,182)	$0	$0
	Other Special Revenue Funds		($182,142)	($23,065)	$0	$0
Fiscal Detail and Notes
	Conforming to federal tax law changes, including exempting the first $2400 of unemployment compensation from taxable income in 2009 and modifying the Earned Income Tax Credit rate, will reduce individual income tax collections.  General Fund revenue will decrease by $3,389,261 in FY 2009-10 and $429,182 in FY 2010-11.  Local Government Fund revenue will decrease by $182,142 in FY 2009-10 and $23,065 in FY 2010-11.  Additional administrative costs to Maine Revenue Services associated with conforming can be absorbed within existing budgeted resources.