LD 932 LR 179(01)
An Act To Designate a Sales Tax Holiday
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Katz of Kennebec
Committee: Taxation
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
FY 2015-16 FY 2016-17 Projections  FY 2017-18 Projections  FY 2018-19
Net Cost (Savings)
General Fund $0 $3,895,000 $4,050,800 $4,212,832
General Fund $0 ($3,895,000) ($4,050,800) ($4,212,832)
Other Special Revenue Funds $0 ($205,000) ($213,200) ($221,728)
Fiscal Detail and Notes
Establishing an annual sales tax holiday on the 2nd Saturday in August for sales of certain clothing, school supplies and individual computers would result in a loss of General Fund revenue of $3,895,000 and a loss of Local Government Fund revenue of $205,000 in fiscal year 2016-17.