125th MAINE LEGISLATURE
		LD 1205		LR 426(03)
	An Act To Provide Economic Incentives to Businesses for the Collection of State Taxes
	Fiscal Note for House Amendment "   "
	Sponsor: Rep. O'Connor of Berwick
	Fiscal Note Required: Yes
Fiscal Note
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	General Fund		($3,557,867)	($6,644,863)	($6,828,441)	($7,073,709)
Revenue
	General Fund		$3,557,867	$6,644,863	$6,828,441	$7,073,709
	Other Special Revenue Funds		$197,660	$427,786	$490,084	$508,159
Fiscal Detail and Notes
	Permitting retailers required to register under the sales and use tax laws to deduct and retain up to 0.25% of the sales and use tax collected starting with tax years on or after January 1, 2012 rather than 1% will diminish the General Fund loss from the committee amendment by $3,577,867 in fiscal year 2011-12 and by $6,644,863 in fiscal year 2012-13, when impacts to the Tourism Marketing Fund and State Transit, Aviation and Rail Transportation Fund are taken into account.  As amended here, the final impact would be a General Fund revenue reduction of $1,251,842 in fiscal year 2011-12 and $2,357,550 in fiscal year 2012-13.  Revenue sharing would be impacted proportionally.