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127th MAINE LEGISLATURE |
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LD 322 |
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LR 1509(01) |
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An Act To Enhance
the Creative Economy by Providing a Sales Tax Exemption to Incorporated
Nonprofit Performing Arts Organizations |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Rep. DeChant of Bath |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2015-16 |
FY 2016-17 |
Projections FY 2017-18 |
Projections FY 2018-19 |
| Net Cost
(Savings) |
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General Fund |
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$67,058 |
$93,166 |
$97,172 |
$101,350 |
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| Revenue |
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General Fund |
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($67,058) |
($93,166) |
($97,172) |
($101,350) |
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Other Special Revenue Funds |
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($3,529) |
($4,903) |
($5,114) |
($5,334) |
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| Fiscal Detail
and Notes |
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This bill exempts
incorporated nonprofit performing arts organizations from the sales tax
effective October 1, 2015. The
exemption will reduce General Fund revenue by $67,058 in fiscal year 2015-16
and $93,166 in fiscal year 2016-17. It
will also reduce Local Government Fund revenue by $3,529 in fiscal year
2015-16 and $4,903 in fiscal year 2016-17. |
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