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127th MAINE LEGISLATURE |
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LD 1657 |
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LR 2724(04) |
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An Act To
Simplify and Expand the Educational Opportunity Tax Credit |
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Fiscal Note for
Senate Amendment " " to Original Bill |
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Sponsor: Sen. Valentino of York |
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Fiscal Note Required: Yes |
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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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$0 |
$24,500 |
$0 |
$0 |
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| Revenue |
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General Fund |
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$0 |
($24,500) |
$0 |
$0 |
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Other Special Revenue Funds |
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$0 |
($500) |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This amendment
adds the provisions of the committee amendment to LD 1505 into the bill. PL 2015, c. 267, Pt. QQQ expanded the
educational opportunity tax credit to include consolidated loans for tax
years beginning on or after January 1, 2016. The amendment provides that
consolidated loans are eligible in tax year 2015 provided that the
consolidated loans only include educational loans. The incremental effect of
adding LD 1505 is to reduce General Fund revenue by $24,500 in fiscal year
2016-17 and reduce Local Government Fund revenue by $500 in fiscal year
2016-17. |
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