LD 290 LR 986(01)
An Act To Refund the Sales Tax Paid on Fuel Used in Commercial Agricultural Production and Commercial Wood Harvesting
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Cushing of Penobscot
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 $9,963,600 $13,019,750 $13,656,202 $14,268,999
General Fund ($9,963,600) ($13,019,750) ($13,656,202) ($14,268,999)
Other Special Revenue Funds ($524,400) ($685,250) ($718,748) ($751,000)
Fiscal Detail and Notes
This bill provides a sales and use tax refund or exemption for fuel used in commercial wood harvesting or commercial agricultural production.  It would result in a loss of General Fund revenue of $9,963,600 in fiscal year 2015-16 and $13,019,750 in fiscal year 2016-17 and a loss to the Local Government Fund of $524,400 in fiscal year 2015-16 and $685,250 in fiscal year 2016-17.