124th MAINE LEGISLATURE
		LD 1284		LR 1037(02)
	An Act To Create a Scholarship Granting Organization Tax Credit
	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		$30,865,216	$45,074,692	$62,455,150	$82,342,054
Appropriations/Allocations
	General Fund		$70,915	$91,864	$94,620	$97,458
Revenue
	General Fund		($30,794,301)	($44,982,828)	($62,360,530)	($82,244,596)
	Other Special Revenue Funds		($1,689,139)	($2,467,412)	($3,420,622)	($4,511,307)
Fiscal Detail and Notes
	This bill establishes a tax credit of up to 50% of tax liability each year to individuals and corporations who contribute money to scholarship granting organizations.  The General Fund revenue loss is estimated to be $30,794,301 in FY 2009-10 and $44,982,828 in FY 2010-11. The Local Government Fund revenue loss is estimated to be $1,689,139 in FY 2009-10 and $2,467,412 in FY 2010-11.  The bill provides an appropriation of $11,000 to Maine Revenue Services for initial computer programming costs and provides a .5 FTE Revenue Agent position beginning July 1, 2009 and a .25 FTE Tax Examiner position beginning January 1, 2010 to carry out the program objectives.