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124th MAINE LEGISLATURE |
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LD 450 |
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LR 851(01) |
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An Act To Clarify
the Sales Tax Exemption for Commercial Agricultural Crop Production |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Rep. Saviello of Wilton |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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Preliminary
Fiscal Impact Statement |
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2009-10 |
2010-11 |
Projections 2011-12 |
Projections 2012-13 |
Net Cost
(Savings) |
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General Fund |
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$26,250 |
$35,500 |
$36,000 |
$37,000 |
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Revenue |
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General Fund |
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($26,250) |
($35,500) |
($36,000) |
($37,000) |
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Fiscal Detail
and Notes |
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This bills
expands the sales tax exemption for products used in commercial agricultural
crop production to apply to silvicultural (forestry) crop production. The expansion of the sales tax exemption is
expected to reduce sales tax revenue. The administrative cost to Maine
Revenue Services to enact this legislation can be absorbed within existing
budgeted resources. |
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