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125th MAINE LEGISLATURE |
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LD 1610 |
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LR 2305(07) |
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An Act To Amend
the Law Regarding the Sale of Wood Pellets |
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Fiscal Note for
House Amendment " " to
Committee Amendment "A" |
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Sponsor: Rep. Harmon of Palermo |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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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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$13,063 |
$54,340 |
$56,514 |
$58,775 |
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| Revenue |
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General Fund |
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($13,063) |
($54,340) |
($56,514) |
($58,775) |
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Other Special Revenue Funds |
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($687) |
($2,860) |
($2,974) |
($3,093) |
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| Fiscal Detail
and Notes |
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The amendment
expands the sales tax exemption provided under the bill by removing the limit
on the amount of wood pellet purchases presumed to be for residential
use. Maine Revenue Services estimates
that this change would result in an incremental loss of General Fund revenue
of $13,063 in FY 2011-12 and $54,340 in FY 2012-13. Revenue sharing would also be reduced in
each year. The total reduction in
General Fund revenue for the bill as amended is estimated to be $17,813 in FY
2011-12 and $74,100 in FY 2012-13. |
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