127th MAINE LEGISLATURE
		LD 503		LR 182(02)
	An Act To Provide Local Sales Tax Increment Disbursements
	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		$0	$0	$0	$2,183,020
Revenue
	General Fund		$0	$0	$0	($2,183,020)
	Other Special Revenue Funds		$0	$0	$0	($114,896)
Fiscal Detail and Notes
	The bill creates a local sales tax increment to be paid annually to each municipality equal to 5% of the amount that sales tax collections in each municipality exceed the collections of the base fiscal year of 2016-17. The base year would change every 4 years. Any year collections are below those of the base year no payments would be made. The first payments would be in fiscal year 2018-19 and would reduce General Fund revenue by $2,183,020 and reduce Local Government Fund revenue by $114,896.