129th MAINE LEGISLATURE
		LD 1698		LR 1741(07)
	An Act To Create Jobs and Slow Climate Change by Promoting the Production of Natural Resources Bioproducts
	Fiscal Note for House Amendment " " to Committee Amendment "A"
	Sponsor: Rep. Fecteau of Biddeford
	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		$0	$0	($45,125)	($54,031)
Revenue
	General Fund		$0	$0	$45,125	$54,031
	Other Special Revenue Funds		$0	$0	$2,375	$2,844
Fiscal Detail and Notes
	The bill as currently engrossed reduced General Fund revenue by $45,125 in fiscal year 2021-22 and $87,875 in fiscal year 2022-23 and reduced Other Special Revenue Funds revenue by $2,375 in fiscal year 2021-22 and $4,625 in fiscal year 2022-23. This amendment delays the application date one year from on or after January 1, 2020 to on or after January 1, 2021. This completely restores the revenue loss in fiscal year 2021-22. The amendment also makes the eligibility criteria for entities to qualify for the tax credit more restrictive by increasing the percentage of employees of entities hired to harvest renewable biomass that must meet the eligibility conditions for that entity to receive the credit from 50% to 75%. Assuming that 25% of the entities who would have met the lower 50% criteria will not meet the higher 75% criteria and will not be eligible for the credit, the incremental impact compared to the engrossed bill is to increase (reduce the loss) General Fund revenue by $54,031 in fiscal year 2022-23 and increase Local Government Fund revenue by $2,844 in fiscal year 2022-23.