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127th MAINE LEGISLATURE |
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LD |
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LR 2656(01) |
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An Act To Provide
Tax Revenue To Offset Transfers to the Maine Clean Election Fund |
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Fiscal Note for
Original Bill |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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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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$0 |
($4,603,157) |
($4,941,820) |
($5,178,163) |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$394,843 |
$301,180 |
$309,837 |
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| Revenue |
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General Fund |
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$0 |
$4,998,000 |
$5,243,000 |
$5,488,000 |
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Other Special Revenue Funds |
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$0 |
$102,000 |
$107,000 |
$112,000 |
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| Fiscal Detail
and Notes |
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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. |
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