124th MAINE LEGISLATURE
		LD 659		LR 392(02)
	An Act To Remove the Sales Tax on Watercraft
	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		$362,309	$527,936	$549,053	$571,016
Revenue
	General Fund		($362,309)	($527,936)	($549,053)	($571,016)
	Other Special Revenue Funds		($19,471)	($28,372)	($29,507)	($30,687)
Fiscal Detail and Notes
	This bill includes an exemption from Maine sales tax for all Maine nonresident purchases of watercraft and any material sold to construct, repair, alter, refit, reconstruct, overhaul or restore a watercraft. This exemption will reduce General Fund revenue by $362,309 in 2009-10 and $527,936 in 2010-11. This exemption will also reduce Local Government Fund revenue by $19,471 in 2009-10 and $28,372 in 2010-11.  The additional costs to Maine Revenue Services associated with this sales tax exemption can be absorbed within existing budgeted resources.