125th MAINE LEGISLATURE
		LD 1336		LR 1566(01)
	An Act To Provide an Internship Employment Tax Credit
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Goodall of Sagadahoc
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	General Fund		$49,150	$16,150	$16,150	$16,150
Appropriations/Allocations
	General Fund		$33,000	$0	$0	$0
Revenue
	General Fund		($16,150)	($16,150)	($16,150)	($16,150)
	Other Special Revenue Funds		($850)	($850)	($850)	($850)
Fiscal Detail and Notes
	Providing an income tax credit for employment of qualified student interns will reduce General Fund revenue and will reduce revenue sharing starting in fiscal year 2011-12.  To implement the tax credit Maine Revenue Services will require a one-time appropriation of $33,000 in fiscal year 2011-12 to add a credit line to the individual, fiduciary and corporate income tax returns.