127th MAINE LEGISLATURE
LD 498 LR 1429(02)
An Act To Restore the Super Credit for Substantially Increased Research and Development
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 $4,035,315 $2,814,660 $3,027,745 $3,130,250
Revenue
General Fund ($4,035,315) ($2,814,660) ($3,027,745) ($3,130,250)
Other Special Revenue Funds ($212,385) ($148,140) ($159,355) ($164,750)
Fiscal Detail and Notes
PL 2013 c. 502 suspended the availability of the super credit for tax years after January 1, 2014.  This bill restores that availability retroactive to January 1, 2014 and changes the definition of the super credit base amount.  General Fund revenue would be reduced by $4,035,315 in fiscal year 2015-16 and $2,814,660 in fiscal year 2016-17 and Local Government Fund revenues would be reduced by $212,385 in fiscal year 2015-16 and $148,140 in fiscal year 2016-17.