128th MAINE LEGISLATURE
		LD 1781		LR 2789(02)
	An Act To Encourage New Major Investments in Shipbuilding Facilities and the Preservation of Jobs
	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	$0	$0	$2,660,000
Revenue
	General Fund		$0	$0	$0	($2,660,000)
	Other Special Revenue Funds		$0	$0	$0	($140,000)
Fiscal Detail and Notes
	The bill provides an income tax credit for major investments in a shipbuilding facility beginning with tax years beginning on or after January 1, 2020.  It would result in a loss of General Fund revenue of $2,660,000  and a loss of Local Government Fund revenue of $140,000 in fiscal year 2020-21.
	Additional costs to the Department of Economic and Community Development and the Legislature's Office of Program Evaluation and Government Accountability to implement the requirements of this bill can be absorbed within existing budgeted resources.