127th MAINE LEGISLATURE
LD 1583 LR 2662(02)
An Act To Provide for Tax Conformity and Funding Methods
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Appropriations and Financial Affairs
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 ($6,352,443) $10,442,645 $12,725,300 $9,600,080
Appropriations/Allocations
General Fund ($6,128,120) $0 $0 $0
Other Special Revenue Funds ($1,500,000) ($1,500,000) $0 $0
Revenue
General Fund ($18,974,760) ($19,404,000) ($12,725,300) ($9,600,080)
Other Special Revenue Funds ($387,240) ($396,000) ($259,700) ($195,920)
Transfers
General Fund $19,199,083 $8,961,355 $0 $0
Other Special Revenue Funds ($2,613,150) ($2,211,355) $0 $0
Dirigo Health Fund ($300,000) $0 $0 $0
Fiscal Detail and Notes
This legislation proposes to conform to certain federal tax laws for tax years beginning on or after January 1, 2015 and would result in a loss of General Fund revenue of $18,974,760 in fiscal year 2015-16 and $19,404,000 in fiscal year 2016-17. It would also result in a reduction in transfers to the Local Government Fund of $387,240 in fiscal year 2015-16 and $396,000 in fiscal year 2016-17.
Part B of the bill 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 $6,128,120 from the Department of Administrative and Financial Services and the Office of the Treasurer of the State in fiscal year 2015-16 to reflect savings in debt service and veterans tax reimbursements.
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.
Parts E and F lapses $6,750,000 in fiscal year 2015-16 and $6,750,000 in fiscal year 2016-17 from Personal Services appropriations that would otherwise lapse to the Salary Plan account in the Department of Administrative and Financial Services.
Part G transfers $767,507 in fiscal year 2015-16 and $711,355 in fiscal year 2016-17 from the K-12 Essential Programs and Services Other Special Revenue Funds account to the unappropriated surplus of the General Fund.
Part H deallocates $750,000 in fiscal year 2015-16 and $750,000 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.