127th MAINE LEGISLATURE
		LD 409		LR 436(02)
	An Act To Lower the Individual Income Tax Incrementally to Zero
	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		$155,952,000	$395,770,000	$411,787,000	$428,602,000
Revenue
	General Fund		($155,952,000)	($395,770,000)	($411,787,000)	($428,602,000)
	Other Special Revenue Funds		($8,208,000)	($20,830,000)	($21,673,000)	($22,558,000)
Fiscal Detail and Notes
	This bill phases out individual income taxes and would result in a loss of General Fund revenue of $155,952,000 in fiscal year 2015-16 and $395,770,000 in fiscal year 2016-17 and a loss to the Local Government Fund of $8,208,000 in fiscal year 2015-16 and $20,830,000 in fiscal year 2016-17.