| 124th MAINE LEGISLATURE | ||||||
| LD 1540 | LR 2219(01) | |||||
| An Act To Amend the Tax Laws | ||||||
| Preliminary Fiscal Impact Statement for Original Bill | ||||||
| Sponsor: Rep. Watson of Bath | ||||||
| Committee: Taxation | ||||||
| Fiscal Note Required: No | ||||||
| Preliminary Fiscal Impact Statement | ||||||
| No significant revenue impact Minor cost increase - General Fund |
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| Fiscal Detail and Notes | ||||||
| This bill makes technical changes to certain tax exemptions and to the rules governing the collection and payment of taxes by insurance agencies on surplus lines premiums in specific circumstances. The bill also clarifies the procedures for the apportionment of county taxes in the unorganized territory and clarifies related procedures. Additionally, the bill makes a credit/reimbursement allowed or paid that is recoverable by the State Tax Assessor a "tax" and imposes interest charges on same. These changes will have no significant impact on tax revenue and any additional administrative costs to Maine Revenue Services can be absorbed within existing budgeted resources. | ||||||