125th MAINE LEGISLATURE
		LD 358		LR 1189(02)
	An Act To Exempt from the Income Tax Military Death Payments and Employment-based Retirement Income of Persons Who Are 65 Years of Age or Older
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
Minor revenue decrease - General Fund Minor revenue decrease - Other Special Revenue Funds Minor cost increase - General Fund
Fiscal Detail and Notes
	Exempting from income taxation certain annuity payments made under a survivor benefit plan or reserve component survivor benefit plan pursuant to 10 United States Code, Chapter 73 will result in minor revenue reductions to the General Fund and minor reductions in revenue sharing.  Any costs associated with administering this exemption can be absorbed by Maine Revenue Services within existing budgeted resources.