127th MAINE LEGISLATURE
		LD 1657		LR 2724(08)
	An Act To Simplify and Expand the Educational Opportunity Tax Credit
	Fiscal Note for Senate Amendment " " to Senate Amendment "A"
	Sponsor: Sen. Hamper of Oxford
	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		($395,000)	$0	$0	$0
Appropriations/Allocations
	General Fund		($419,500)	$0	$0	$0
Revenue
	General Fund		($24,500)	$0	$0	$0
	Other Special Revenue Funds		($500)	$0	$0	$0
Fiscal Detail and Notes
	This amendment adds an emergency preamble and clause. It includes a General Fund deappropriation of $219,500 to the Office of Treasurer of State in fiscal year 2015-16 and a General Fund deappropriation of $200,000 to the Historic Preservation Commission in fiscal year 2015-16.
	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 2015-16 and reduce Local Government Fund revenue by $500 in fiscal year 2015-16.