127th MAINE LEGISLATURE
		LD 1564		LR 2444(05)
	An Act To Update References to the United States Internal Revenue Code of 1986 Contained in the Maine Revised Statutes
	Fiscal Note for House Amendment " " to Committee Amendment "B"
	Sponsor: Rep. Tipping-Spitz of Orono
	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		($20,313,525)	$7,566,347	$27,696,325	$26,936,825
Appropriations/Allocations
	General Fund		($6,113,120)	$22,388,645	$22,388,645	$22,388,645
	Other Special Revenue Funds		($1,000,000)	($288,645)	$711,355	$711,355
Revenue
	General Fund		($1,401,400)	($7,798,840)	($5,307,680)	($4,548,180)
	Other Special Revenue Funds		($28,600)	($159,160)	($107,960)	($92,820)
Transfers
	General Fund		$15,601,805	$22,621,138	$0	$0
	Other Special Revenue Funds		($2,113,150)	($1,000,000)	$0	$0
	Dirigo Health Fund		($300,000)	$0	$0	$0
Fiscal Detail and Notes
Part A proposes to conform to certain federal tax laws for tax years beginning on or after January 1, 2015 and to conform to bonus depreciation for the 2015 tax year only. Compared to Committee Amendment B, this amendment would incrementally reduce General Fund revenue by $1,401,400 in fiscal year 2015-16 and by $7,798,840 in fiscal year 2016-17. It would also incrementally reduce transfers to the Local Government Fund by $28,600 in fiscal year 2015-16 and by $159,160 in fiscal year 2016-17.
Part B transfers $9,535,933 from the Tax Relief Fund for Maine Residents to the unappropriated surplus of the General Fund in fiscal year 2015-16.
Part C deappropriates $6,113,120 from the Office of the Treasurer of the State in fiscal year 2015-16 to reflect savings in debt service.
Part D transfers $194,312 in fiscal year 2015-16 from various Department of Environmental Protection Other Special Revenue Funds accounts chosen by the department prior to the close of fiscal year 2015-16 to the unappropriated surplus of the General Fund.
Part E lapses $3,652,722 in fiscal year 2015-16 from Personal Services appropriations that would otherwise lapse to the Salary Plan account in the Department of Administrative and Financial Services.
Part F transfers $21,621,138 from the Maine Budget Stabilization Fund to the unappropriated surplus of the General Fund not later than June 30, 2017.
Part G transfers $767,507 in fiscal year 2015-16 from the K-12 Essential Programs and Services, Other Special Revenue Funds account in the Department of Education to the General Fund.  Part G also sets the full value education mill rate in fiscal year 2016-17 at 8.23 mills. Part G appropriates $22,388,645 per year beginning in fiscal year 2016-17 to the General Purpose Aid for Local Schools program within the Department of Education to provide additional subsidy for local schools. Finally, Part G allocates $711,355 per year beginning in fiscal year 2016-17 due to increased projections in table games and slot machine revenue that support K-12 public education.
Part H deallocates $250,000 in fiscal year 2015-16 and $250,000 in fiscal year 2016-17 from the Fund for Efficient Delivery of Local and Regional Services - Administration program and repeals transfers from the General Fund to the Fund for Efficient Delivery of Local and Regional Services - Administration program.
Part I repeals the provision in Public Law 2015, c. 267, Part PP that required the State Controller to transfer $750,000 in fiscal year 2015-16 and $750,000 in fiscal year 2016-17 from the General Fund unappropriated surplus to the Fund for Efficient Delivery of Educational Services Other Special Revenue Funds account and includes corresponding deallocations to the program account.
Part J transfers $300,000 from the Dirigo Health Fund to the unappropriated surplus of the General Fund during fiscal year 2015-16.
Part K transfers $151,331 from the Audit Recovery Other Special Revenue Funds account to the unappropriated surplus of the General Fund during fiscal year 2015-16.