129th MAINE LEGISLATURE
LD 424 LR 2028(02)
An Act To Provide a Sales Tax Exemption for Baling Twine, Net and Wrapping for Hay
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
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 $44,175 $60,420 $61,940 $63,460
Revenue
General Fund ($44,175) ($60,420) ($61,940) ($63,460)
Other Special Revenue Funds ($2,325) ($3,180) ($3,260) $3,340
Fiscal Detail and Notes
The bill provides a sales tax exemption for baling twine, net and wrapping for hay and would result in a loss of General Fund revenue of $44,175 in fiscal year 2019-20 and $60,420 in fiscal year 2020-21.  It would also result in a loss of Other Special Revenue Funds revenue of $2,325 in fiscal year 2019-20 and $3,180 in fiscal year 2020-21.