LD 1095 LR 157(02)
An Act To Enhance the Property Tax Fairness Credit for Maine's Low-income Seniors and Other Low-income Residents
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 $37,952,500 $39,520,000 $40,185,000
General Fund $0 ($37,952,500) ($39,520,000) ($40,185,000)
Other Special Revenue Funds $0 ($1,997,500) ($2,080,000) ($2,115,000)
Fiscal Detail and Notes
This bill increases the benefit base, changes the calculation of the tax credit and increases the maximum credit under the property tax fairness credit and would result in a reduction in General Fund revenue of $37,952,500 in fiscal year 2016-17 and a reduction in Local Government Fund revenue of $1,997,500 in fiscal year 2016-17.