127th MAINE LEGISLATURE
LD      LR 2656(01)
An Act To Provide Tax Revenue To Offset Transfers to the Maine Clean Election Fund
Fiscal Note for Original Bill
Committee: Taxation
Fiscal Note Required: Yes
             
Preliminary Fiscal Impact Statement
FY 2015-16 FY 2016-17 Projections  FY 2017-18 Projections  FY 2018-19
Net Cost (Savings)
General Fund $0 ($4,603,157) ($4,941,820) ($5,178,163)
Appropriations/Allocations
General Fund $0 $394,843 $301,180 $309,837
Revenue
General Fund $0 $4,998,000 $5,243,000 $5,488,000
Other Special Revenue Funds $0 $102,000 $107,000 $112,000
Fiscal Detail and Notes
The bill requires corporations who file unitary income tax returns to include income from certain jurisdictions outside the United States in net income when apportioning income among tax jurisdictions.  It would result in an increase in General Fund and Local Government Fund revenue of $4,998,000 and $102,000, respectively, in fiscal year 2016-17.  The bill includes a General Fund appropriation to the Department of Administrative and Financial Services of $394,843 in fiscal year 2016-17 for two Staff Attorney positions, one Tax Analyst position and computer programming charges.