127th MAINE LEGISLATURE
		LD 94		LR 152(03)
	An Act To Base the Excise Tax Imposed on the Purchase of a Motor Vehicle on the Price Paid
	Fiscal Note for Senate Amendment " " to Committee Amendment "A"
	Sponsor: Sen. Saviello of Franklin
	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		$0	($15,000)	($30,000)	($30,000)
	Highway Fund		$0	$0	$130,000	$260,000
Appropriations/Allocations
	Other Special Revenue Funds		$0	$0	$130,000	$260,000
Revenue
	General Fund		$0	$15,000	$30,000	$30,000
	Highway Fund		$0	$0	($130,000)	($260,000)
	Other Special Revenue Funds		$0	$66,500	$133,000	$133,000
Fiscal Detail and Notes
	This amendment removes the provision of committee amendment "A" that imposed the motor vehicle excise tax on 90% of the maker's list price and instead provides that for new vehicles for the first year of registration only, the excise tax is based on the purchase price. Subsequent years revert back to the maker's list price. Any General Fund revenue loss related to out-of-state vehicles and any Other Special Revenue Funds revenue loss related to collections in the unorganized territories would be minor. Therefore, the revenue loss shown in the committee amendment is added back in this incremental fiscal note. Likewise, there would be no additional transfer to the Highway Fund, so the additional revenue shown in the committee amendment has been reversed. Finally, there would be no corresponding reduction in Other Special Revenue Funds allocation and that allocation has been added back as well.
	Excise tax to municipalities is expected to decrease by $4,300,000 with this amendment added versus the $21,000,000 decrease created by the committee amendment.