124th MAINE LEGISLATURE
		LD 659		LR 392(07)
	An Act To Remove the Sales Tax on Watercraft
	Fiscal Note for Senate Amendment "   " to Committee Amendment "A"
	Sponsor: Sen. Diamond of Cumberland
	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 amendment eliminates the impact of the committee amendment and institutes an exemption on sales and use tax for nonresident purchases of watercraft and watercraft materials, as well as a 60% sales and use tax exemption in particular circumstances.  These exemptions are anticipated by the Bureau of Revenue Services to result in a net minor revenue increase owing to additional watercraft and watercraft materials sales.