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127th MAINE LEGISLATURE |
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LD 1583 |
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LR 2662(04) |
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An Act To Provide
for Tax Conformity and Funding Methods |
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Fiscal Note for
Bill as Engrossed with:
C "A" (S-354) |
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Committee: Appropriations and Financial Affairs |
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| Fiscal Note |
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FY 2015-16 |
FY 2016-17 |
Projections FY 2017-18 |
Projections FY 2018-19 |
| Net Cost
(Savings) |
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General Fund |
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($6,352,443) |
$10,442,645 |
$12,725,300 |
$9,600,080 |
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| Appropriations/Allocations |
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General Fund |
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($6,128,120) |
$0 |
$0 |
$0 |
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Other Special Revenue Funds |
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($1,500,000) |
($1,500,000) |
$0 |
$0 |
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| Revenue |
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General Fund |
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($18,974,760) |
($19,404,000) |
($12,725,300) |
($9,600,080) |
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Other Special Revenue Funds |
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($387,240) |
($396,000) |
($259,700) |
($195,920) |
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| Transfers |
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General Fund |
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$19,199,083 |
$8,961,355 |
$0 |
$0 |
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Other Special Revenue Funds |
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($2,613,150) |
($2,211,355) |
$0 |
$0 |
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Dirigo Health Fund |
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($300,000) |
$0 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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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. |
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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. |
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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. |
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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. |
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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. |
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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. |
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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. |
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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. |
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Part J transfers
$300,000 from the Dirigo Health Fund to the unappropriated surplus of the
General Fund during fiscal year 2015-16. |
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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. |
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