127th MAINE LEGISLATURE
		LD 1287		LR 1119(02)
	An Act To Ensure That Tax Expenditures Create High-quality Jobs
	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		$148,103	$139,791	$103,324	$42,351
Appropriations/Allocations
	General Fund		$148,103	$146,441	$151,299	$156,351
Revenue
	General Fund		$0	$6,650	$47,975	$114,000
	Other Special Revenue Funds		$0	$350	$2,525	$6,000
Fiscal Detail and Notes
	This bill includes General Fund appropriations totaling $148,103 in fiscal year 2015-16 and $146,441 in fiscal year 2016-17 to implement the requirements of this legislation.  This fiscal note assumes an effective date of October 1, 2015.  Of these amounts, General Fund appropriations of $109,530 in fiscal year 2015-16 and $92,954 in fiscal year 2016-17 are provided to the Business Development program within the Department of Economic and Community Development for one Development Project Officer position and related all other costs, including one-time technology costs to upgrade the current software program to support the addition of the quality jobs requirement.  General Fund appropriations of $38,573 in fiscal year 2015-16 and $53,487 in fiscal year 2016-17 to the Finance Authority of Maine are also provided for a half-time position to verify and enforce the quality jobs requirement.
	The bill establishes annual reporting by certain credit recipients and a reduction in the percentage of the credit received if not in compliance with the jobs requirement.  It would result in an increase in General Fund revenue of $6,650 in fiscal year 2016-17 and Local Government Fund revenue of $350 in fiscal year 2016-17.