127th MAINE LEGISLATURE
LD 76 LR 407(02)
An Act To Amend the Property Tax Fairness Credit
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
Fiscal Note Required: Yes
             
Fiscal Note
FY 2015-16 FY 2016-17 Projections  FY 2017-18 Projections  FY 2018-19
Net Cost (Savings)
General Fund $10,640,000 $11,305,000 $11,875,000 $11,875,000
Revenue
General Fund ($10,640,000) ($11,305,000) ($11,875,000) ($11,875,000)
Other Special Revenue Funds ($560,000) ($595,000) ($625,000) ($625,000)
Fiscal Detail and Notes
This bill makes changes to the property tax fairness credit resulting in a reduction in General Fund revenue of $10,640,000 in fiscal year 2015-16 and $11,305,000 in 2016-17 and a reduction in Local Government Fund revenue of $560,000 in fiscal year 2015-16 and $595,000 in 2016-17.  This analysis assumes the changes are effective for tax years beginning on or after 1-1-15.