125th MAINE LEGISLATURE
		LD 1699		LR 2575(02)
	An Act To Create Excise Tax Equity and Consistency for Buses
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	Highway Fund		$0	$30,000	$30,000	$30,000
Appropriations/Allocations
	Other Special Revenue Funds		$0	$30,000	$30,000	$30,000
Revenue
	Highway Fund		$0	($30,000)	($30,000)	($30,000)
Fiscal Detail and Notes
	This legislation provides that the excise tax on a bus manufactured in 2006 and after is based upon the purchase price rather than the list price and that municipalities may be reimbursed through the Municipal Excise Tax Reimbursement Fund for these buses.  The bill includes an Other Special Revenue Funds allocation of $30,000 beginning in fiscal year 2012-13 to the Department of Secretary of State for additional payments to municipalities.  Under current statute, the amount remaining in the Fund at the end of the year is transferred to the Highway Fund.  Since payments deposited into the Municipal Excise Tax Reimbursement Fund through the International Registration Plan will not change under this legislation, but the reimbursement to municipalities will increase, the amount transferred to the Highway Fund will decrease by $30,000 beginning in fiscal year 2012-13.