127th MAINE LEGISLATURE
		LD 96		LR 26(02)
	An Act To Increase the State Earned Income 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		$741,000	$779,000	$817,000	$764,750
Revenue
	General Fund		($741,000)	($779,000)	($817,000)	($764,750)
	Other Special Revenue Funds		($39,000)	($41,000)	($43,000)	($40,250)
Fiscal Detail and Notes
	This legislation increases the earned income tax credit from 5% to 10% and adds an enhanced credit for taxpayers with no qualifying child equal to 50% of the federal earned income tax credit.  It would result in a reduction in General Fund revenue of $741,000 in fiscal year 2015-16 and $779,000 in fiscal year 2016-17 and a reduction in Local Government Fund revenue of $39,000 in fiscal year 2015-16 and $41,000 in fiscal year 2016-17.