LD 1612 LR 1329(04)
An Act Regarding the Presumption of Abandonment of Gift Obligations
Fiscal Note for Senate Amendment " " to Committee Amendment "A"
Sponsor: Sen. Breen of Cumberland
Fiscal Note Required: Yes
Fiscal Note
Additional revenue reduction - General Fund
Fiscal Detail and Notes
This amendment begins the revenue loss earlier than the committee amendment by lowering the presumption of abandonment earlier in stages. It also restricts abandonment for additional cards. This is expected to reduce General Fund revenue over the committee amendment by $1,700,000 in fiscal year 2021-22, $3,500,000 in fiscal year 2022-23 and $1,500,000 in fiscal year 2023-24 and after.