|
|
|
|
|
|
|
|
130th MAINE LEGISLATURE |
|
|
LD 1184 |
|
LR 1067(02) |
|
|
|
An Act To Exempt
from Taxation Certain Out-of-state Pensions |
|
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 |
|
$415,250 |
$404,250 |
$399,000 |
$399,000 |
|
|
|
|
|
|
|
| Appropriations/Allocations |
|
|
|
|
|
|
General Fund |
|
$11,000 |
$0 |
$0 |
$0 |
|
|
|
|
|
|
|
| Revenue |
|
|
|
|
|
|
General Fund |
|
($404,250) |
($404,250) |
($399,000) |
($399,000) |
|
Other Special Revenue Funds |
|
($15,750) |
($15,750) |
($21,000) |
($21,000) |
|
|
|
|
|
|
|
| Fiscal Detail
and Notes |
|
|
|
|
|
|
The bill provides
an income tax exemption for certain out-of-state pensions and will reduce
General Fund revenue by $404,250 in fiscal years 2021-22 and 2022-23. It will also reduce Local Government Fund
revenue by $15,750 in fiscal years 2021-22 and 2022-23. The bill includes a one-time General Fund
appropriation of $11,000 in fiscal year 2021-22 to the Department of
Administrative and Financial Services for computer programming costs. |
|
|
|
|
|
|
|