125th MAINE LEGISLATURE
		LD 921		LR 1603(03)
	An Act To Clarify the Collection Process for the Commercial Forestry Excise Tax
	Fiscal Note for Bill as Engrossed with: C "A" (H-484)
	Committee: Taxation
Fiscal Note
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	General Fund		$15,000	$10,000	$5,000	$3,000
Revenue
	General Fund		($15,000)	($10,000)	($5,000)	($3,000)
Fiscal Detail and Notes
	Limiting the supplemental assessment period for the commercial forestry excise tax and providing that landowners who sign an affidavit stating unawareness of the requirement to file a return may be assessed only for the 3 preceding years without accumulated interest or penalties if the tax is paid within 30 days after receipt to notice and that landowners who know of the requirement to file a return and fail to file or file a false return may receive a supplemental assessment for the 6 preceding years plus interest and penalties will reduce revenue to the General Fund starting in fiscal year 2011-12.