130th MAINE LEGISLATURE
		LD 262		LR 658(02)
	An Act To Combat Hunger by Creating a Tax Credit of 10 Percent of Wholesale Market Prices up to $5,000 Annually for Businesses Engaged in Food Production for Donations of Food to Tax-exempt Organizations
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2021-22	FY 2022-23	Projections  FY 2023-24	Projections  FY 2024-25
Net Cost (Savings)
	General Fund		$0	$81,125	$47,500	$47,500
Appropriations/Allocations
	General Fund		$0	$33,000	$0	$0
Revenue
	General Fund		$0	($48,125)	($47,500)	($47,500)
	Other Special Revenue Funds		$0	($1,875)	($2,500)	($2,500)
Fiscal Detail and Notes
	This bill provides an income tax credit for businesses engaged in food production for donations and will result in a reduction in General Fund revenue of $48,125 in fiscal year 2022-23 and a reduction in Local Government Fund revenue of $1,875 in fiscal year 2022-23.  The bill includes a one-time General Fund appropriation of $33,000 in fiscal year 2022-23 to the Department of Administrative and Financial Services for computer programming to add lines to the individual, fiduciary and corporate income tax returns.