LD 1212 LR 1237(02)
An Act To Amend the Definition of "Eligible Business Equipment" for the Purposes of the Business Equipment Tax Exemption Program
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
Fiscal Note Required: Yes
Fiscal Note
FY 2017-18 FY 2018-19 Projections  FY 2019-20 Projections  FY 2020-21
Net Cost (Savings)
General Fund $0 $245,000 $245,000 $245,000
General Fund $0 ($245,000) ($245,000) ($245,000)
Fiscal Detail and Notes
This bill removes the property tax exemption for personal property leased by certain organizations and adds that property to business equipment eligible under the BETE property tax exemption program.  General Fund revenue would be reduced by $245,000 beginning in fiscal year 2018-19 for reimbursement to municipalities for 50% of the BETE exemption.