125th MAINE LEGISLATURE
		LD 176		LR 123(01)
	An Act Regarding Sales and Use Tax Audit Procedures and Enforcement
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Langley of Hancock
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	General Fund		$2,137,500	$2,850,000	$2,850,000	$2,850,000
Revenue
	General Fund		($2,137,500)	($2,850,000)	($2,850,000)	($2,850,000)
	Other Special Revenue Funds		($112,500)	($150,000)	($150,000)	($150,000)
Fiscal Detail and Notes
	Prohibiting retroactive assessment of sales and use tax when a taxpayer who should have collected or paid the tax does not have reason to know the tax applies will reduce revenues to the General Fund and result in corresponding reductions to revenue sharing.  The Bureau of Revenue Services indicates that the audit limitations set forth in the bill create a risk that the revenue reduction in any given year will be greater than $3 million.