127th MAINE LEGISLATURE
		LD 930		LR 810(02)
	An Act To Attract Young Families to Maine and Keep Young Families in Maine by Expanding the Child Care Tax Credit
	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		$12,302,500	$12,160,000	$13,062,500	$13,537,500
Revenue
	General Fund		($12,302,500)	($12,160,000)	($13,062,500)	($13,537,500)
	Other Special Revenue Funds		($647,500)	($640,000)	($687,500)	($712,500)
Fiscal Detail and Notes
	The bill expands the income tax credit for child care expenses by increasing it from 25% to 100% of the federal tax credit allowed and making the credit fully refundable and would result in a reduction in General Fund revenue of $12,302,500 in fiscal year 2015-16 and $12,160,000 in fiscal year 2016-17 and a reduction in Local Government Fund revenue of $647,5000 in fiscal year 2015-16 and $640,000 in fiscal year 2016-17.