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130th MAINE LEGISLATURE |
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LD 1251 |
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LR 1373(01) |
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An Act To
Encourage Charitable Giving |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Rep. Arata of New Gloucester |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2021-22 |
FY 2022-23 |
Projections FY 2023-24 |
Projections FY 2024-25 |
| Net Cost
(Savings) |
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General Fund |
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$1,656,875 |
$1,674,750 |
$1,738,500 |
$1,814,500 |
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| Appropriations/Allocations |
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General Fund |
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$11,000 |
$0 |
$0 |
$0 |
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| Revenue |
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General Fund |
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($1,645,875) |
($1,674,750) |
($1,738,500) |
($1,814,500) |
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Other Special Revenue Funds |
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($64,125) |
($65,250) |
($91,500) |
($95,500) |
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| Fiscal Detail
and Notes |
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The bill provides
an itemized deduction for charitable contributions that exceeds the State's
limit on itemized deductions and would result in a reduction in General Fund
revenue of $1,645,875 in fiscal year 2021-22 and $1,674,750 in fiscal year
2022-23. The Department of
Administrative and Financial Services will require a one-time General Fund
appropriation of $11,000 in fiscal year 2021-22 for computer programming
costs. |
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