124th MAINE LEGISLATURE
		LD 659		LR 392(04)
	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		$0	$502,068	$549,632	$571,618
Revenue
	General Fund		$0	($502,068)	($549,632)	($571,618)
	Other Special Revenue Funds		$0	($26,425)	($28,928)	($30,085)
Fiscal Detail and Notes
	This bill exempts from Maine sales tax all 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 $502,068 in 2010-11 and will reduce Local Government Fund revenue by $26,425 in 2010-11.  Any additional costs to Maine Revenue Services associated with administering the exemption can be absorbed within existing budgeted resources.