127th MAINE LEGISLATURE
		LD 1670		LR 2768(02)
	An Act To Attract Investment to Loring Commerce Centre
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	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		$0	$637,000	$637,000	$637,000
Revenue
	General Fund		$0	($637,000)	($637,000)	($637,000)
	Other Special Revenue Funds		$0	($13,000)	($13,000)	($13,000)
Fiscal Detail and Notes
	The bill increases the amount of employment tax increment paid to the Loring Job Increment Financing Fund and would result in a loss of General Fund and Local Government Fund revenue of $637,000 and $13,000, respectively, in fiscal year 2016-17.
	Additional costs to the Loring Development Authority to submit the required report by January 15, 2021 can be absorbed within existing budgeted resources.