127th MAINE LEGISLATURE
		LD 94		LR 152(01)
	An Act To Base the Excise Tax Imposed on the Purchase of a Motor Vehicle on the Price Paid
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Sirocki of Scarborough
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
			FY 2015-16	FY 2016-17	Projections  FY 2017-18	Projections  FY 2018-19
Net Cost (Savings)
	General Fund		$0	$10,451,167	$10,451,167	$10,451,167
Appropriations/Allocations
	General Fund		$0	$10,451,167	$10,451,167	$10,451,167
Fiscal Detail and Notes
	This bill requires the excise tax on motor vehicles and camper trailers to be based upon the purchase price of the vehicle rather than the manufacturer's suggested retail price.  It also allows municipalities to request reimbursement for the difference between excise tax based upon the purchase price and the manufacturer's suggested retail price (currently this reimbursement is only for commercial vehicles and buses).  Since the revenue deposited into the Municipal Excise Tax Reimbursement Fund will not increase, the Department of Secretary of State will require a General Fund appropriation of $10,451,167 beginning in fiscal year 2016-17 to reimburse municipalities.