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125th MAINE LEGISLATURE |
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LD 1610 |
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LR 2305(01) |
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An Act To Amend
the Law Regarding the Sale of Wood Pellets |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Rep. McKane of Newcastle |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2011-12 |
FY 2012-13 |
Projections FY 2013-14 |
Projections FY 2014-15 |
| Net Cost
(Savings) |
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General Fund |
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$1,979 |
$23,750 |
$23,750 |
$23,750 |
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| Revenue |
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General Fund |
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($1,979) |
($23,750) |
($23,750) |
($23,750) |
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Other Special Revenue Funds |
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($104) |
($1,250) |
($1,250) |
($1,250) |
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| Fiscal Detail
and Notes |
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Increasing the
quantity of wood pellet sales presumed to meet the requirement of residential
use, and thus to qualify for the sales tax exemption, from 200 pounds to
2,000 pounds will reduce sales tax receipts by $25,000 annually and will
reduce revenue sharing proportionately.
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