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129th MAINE LEGISLATURE |
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LD 1645 |
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LR 1760(07) |
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An Act To Create
Affordable Workforce and Senior Housing and Preserve Affordable Rural Housing |
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Fiscal Note for
Bill as Engrossed with:
S "A" (S-374) |
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Committee: Taxation |
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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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$0 |
$0 |
$8,705,638 |
$9,500,000 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$0 |
$60,638 |
$0 |
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| Revenue |
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General Fund |
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$0 |
$0 |
($8,645,000) |
($9,500,000) |
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Other Special Revenue Funds |
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$0 |
$0 |
($455,000) |
($500,000) |
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| Fiscal Detail
and Notes |
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The bill creates
a state affordable housing tax credit administered by the Maine State Housing
authority and will reduce General Fund revenue by an estimated $8,645,000 in
fiscal year 2021-22 and reduce Local Government Fund revenue by $455,000 in
fiscal year 2021-22. The Department of Administrative and Financial Services
will require a General Fund appropriation of $60,638 in fiscal year 2021-22
for programming costs. |
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Additional costs
to the Maine State Housing Authority to implement the requirements of this
legislation can be absorbed within existing budgeted resources. |
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