LD 220 LR 1970(15)
An Act To Make Supplemental Appropriations and Allocations for the Expenditures of State Government and To Change Certain Provisions of the Law Necessary to the Proper Operations of State Government for the Fiscal Year Ending June 30, 2021
Fiscal Note for House Amendment " " to Committee Amendment "A"
Sponsor: Rep. Dillingham of Oxford
Fiscal Note Required: Yes
Fiscal Note
FY 2020-21 FY 2021-22 FY 2022-23 Projections  FY 2023-24 Projections  FY 2024-25
Net Cost (Savings)
General Fund $8,267,875 $9,547,500 $10,497,500 $11,400,000 $11,875,000
General Fund ($8,267,875) ($9,547,500) ($10,497,500) ($11,400,000) ($11,875,000)
Other Special Revenue Funds ($322,125) ($502,500) ($552,500) ($600,000) ($625,000)
Fiscal Detail and Notes
This amendment conforms to the federal Internal Revenue Code in terms of foreign-derived intangible income deductions and would result in a reduction in General Fund and Local Government Fund revenue of $8,267,875 and $322,125, respectively, in fiscal year 2020-21.  A balanced budget is maintained.
Additional costs to the Department of Administrative and Financial Services associated with performing the study and reporting the results can be absorbed within available budgeted resources.