129th MAINE LEGISLATURE
		LD 1292		LR 1395(02)
	An Act To Lower Maine's Individual Income Tax
	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		$42,446,000	$122,911,000	$154,717,000	$166,801,000
Revenue
	General Fund		($42,446,000)	($122,911,000)	($154,717,000)	($166,801,000)
	Other Special Revenue Funds		($2,234,000)	($6,469,000)	($8,143,000)	($8,779,000)
Fiscal Detail and Notes
	This bill lowers the individual income tax rate over 3 years and would result in a reduction in General Fund revenue of $42,446,000 in fiscal year 2019-20 and $122,911,000 in fiscal year 2020-21.  It would also result in a reduction in Local Government Fund revenue of $2,234,000 in fiscal year 2019-20 and $6,469,000 in fiscal year 2020-21.