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125th MAINE LEGISLATURE |
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LD 426 |
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LR 264(01) |
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An Act To Amend
the Laws Governing the TransCap Trust Fund |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Sen. Thomas of Somerset |
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Committee: Transportation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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Potential current biennium cost increase - General Fund
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FY 2011-12 |
FY 2012-13 |
Projections FY 2013-14 |
Projections FY 2014-15 |
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Other Special Revenue Funds |
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$0 |
$0 |
$0 |
$0 |
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| Transfers |
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Other Special Revenue Funds |
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$0 |
$0 |
$0 |
$0 |
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| Referendum
Costs |
Month/Year |
Election Type |
Question |
Length |
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Nov-11 |
General |
Referendum |
Unknown |
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This legislation
requires voter approval of all Transcap revenue bonding. The Secretary of State's budget includes
sufficient funds to accommodate one ballot of average length for the general
election in November. Depending on
whether or not the number of questions at any particular election causes the
production amd delivery of a second ballot, the Secretary of State may
require a General Fund Appropriation of $107,250.
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| Fiscal Detail
and Notes |
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This bill
proposes that 9.5% of the gasoline and special fuel taxes and certain motor
vehicle fees which are currently deposited to the TransCap Trust Fund be
transferred to the Urban-Rural Initiative program. This would result in an Other Special
Revenue Funds reduction to the TransCap Trust Fund at the Maine Municipal
Bond Bank of $2,328,862 in fiscal year 2011-12 and $3,145,471 in fiscal year
2012-13 and a corresponding increase in Other Special Revenue Funds revenue
to the Urban-Rural Initiative Program within the Department of
Transportation. |
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The Department of
Transportation would need an allocation of $2,328,862 in fiscal year 2011-12
and $3,145,471 in fiscal year 2012-13. |
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