127th MAINE LEGISLATURE
		LD 1564		LR 2444(03)
	An Act To Update References to the United States Internal Revenue Code of 1986 Contained in the Maine Revised Statutes
	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		$15,802,500	$1,034,880	($2,333,380)	($1,712,060)
Revenue
	General Fund		($15,802,500)	($1,034,880)	$2,333,380	$1,712,060
	Other Special Revenue Funds		($322,500)	($21,120)	$47,620	$34,940
Fiscal Detail and Notes
	This legislation proposes to conform to certain federal tax laws for tax year 2015 only and would result in a loss of General Fund revenue of $15,802,500 in fiscal year 2015-16 and $1,034,880 in fiscal year 2016-17.  It would also result in a reduction in transfers to the Local Government Fund of $322,500 in fiscal year 2015-16 and $21,120 in fiscal year 2016-17.