LD 173 LR 371(02)
An Act To Promote Economic Development and Critical Communications for Family Farms, Businesses and Residences by Strategic Public Investment in High-speed Internet
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Energy, Utilities and Technology
Fiscal Note Required: Yes
Fiscal Note
FY 2019-20 FY 2020-21 Projections  FY 2021-22 Projections  FY 2022-23
Net Cost (Savings)
General Fund $0 $7,010,000 $8,200,000 $8,250,000
Other Special Revenue Funds $0 $7,010,000 $8,200,000 $8,250,000
General Fund $0 ($7,010,000) ($8,200,000) ($8,250,000)
Other Special Revenue Funds $0 $7,010,000 $8,200,000 $8,250,000
Fiscal Detail and Notes
This bill transfers 33% of the sales and use tax revenue related to marketplace facilitated sales from the General Fund to the ConnectME Authority. The transfer will reduce General Fund revenue by $7,010,000 and increase Other Special Revenue Funds revenue by a corresponding amount starting in fiscal year 2020-21. The bill also includes an accompanying allocation to the Office of Broadband Development within the ConnectME Authority in the Department of Economic and Community Development to allow for expenditure of the funds.