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129th MAINE LEGISLATURE |
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LD 335 |
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LR 890(02) |
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An Act To Require
the State To Distribute 25 Percent of Adult Use Marijuana Retail Sales and
Excise Tax Revenue to Generating Municipalities |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2019-20 |
FY 2020-21 |
Projections FY 2021-22 |
Projections FY 2022-23 |
| Net Cost
(Savings) |
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General Fund |
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$567,520 |
$1,952,600 |
$2,700,600 |
$3,756,600 |
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| Appropriations/Allocations |
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General Fund |
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$83,520 |
$104,600 |
$104,600 |
$104,600 |
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Other Special Revenue Funds |
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$484,000 |
$1,848,000 |
$2,596,000 |
$3,652,000 |
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| Revenue |
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General Fund |
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($484,000) |
($1,848,000) |
($2,596,000) |
($3,652,000) |
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Other Special Revenue Funds |
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$484,000 |
$1,848,000 |
$2,596,000 |
$3,652,000 |
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| Fiscal Detail
and Notes |
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The bill creates
the Local Government Marijuana Revenue Fund (LGMF) within the Department of
Administrative and Financial Services and directs that 12% of the revenue
from excise and sales taxes on marijuana and marijuana products be credited
to the fund. The revenues from the fund will be proportionally distributed to
municipalities who have authorized marijuana establishments by the excise and
sales tax generated by each municipality. The bill includes an Other Special
Revenue Funds allocation of $484,000 in fiscal year 2019-20 and $1,848,000 in
fiscal year 2020-20 to allow for the distribution of the amounts credited to
the LGMF. Transferring sales and excise tax receipts to the LGMF will reduce
revenue to the General Fund by the same amounts, $484,000 in fiscal year
2019-20 and $1,848,000 in fiscal year 2020-21. |
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The bill includes
ongoing General Fund appropriations to the Department of Administrative and
Financial Services of $78,520 in 2019-20 and $104,600 in fiscal year 2020-21
for one Senior Tax Examiner position to process transfers of sales and excise
tax receipts on adult use marijuana. Another $5,000 is appropriated in the
first year for one-time All Other costs to update sales reports and create an
excise tax report to facilitate distribution to municipalities. |
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