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127th MAINE LEGISLATURE |
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LD 297 |
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LR 1423(01) |
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An Act To
Increase Allowed Investments under the Maine New Markets Capital Investment
Program |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Sen. Libby of Androscoggin |
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Committee: Labor, Commerce, Research and
Economic Development |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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| Future biennium revenue decrease - General Fund |
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| Fiscal Detail
and Notes |
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Increasing the
maximum aggregate amount of qualified equity investments available for tax
credits under the Maine New Markets Capital Investment Program from
$250,000,000 to $500,000,000 could decrease General Fund and Local Government
Fund revenue in future biennia. The
reduction could be up to $92,600,000 in General Fund revenue and $4,900,000
in Local Government Fund revenue spread out over a 7-year period beginning in
fiscal year 2019-20. |
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Additional costs
to the Finance Authority of Maine to implement the requirements of this
legislation can be absorbed within existing budgeted resources. |
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