125th MAINE LEGISLATURE
		LD 898		LR 1561(01)
	An Act To Reform the Maine Estate Tax
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Hastings III of Oxford
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Current biennium cost increase - General Fund Current biennium revenue decrease - General Fund
Fiscal Detail and Notes
	Reforming the Maine Estate Tax consistent with the provisions set forth in this bill will reduce revenues to the General Fund and will require Maine Revenue Services (MRS) to incur certain costs associated with adapting to the new system of estate tax administration and collection envisioned by this bill.  MRS states that the extent of the revenue reductions and costs cannot be determined at this time because certain matters regarding the new method of calculating the estate tax, the new structure of applicable tax rates and the operation of credits and other items must be delineated first.