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130th MAINE LEGISLATURE |
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LD 1335 |
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LR 629(02) |
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An Act To Provide
for Exemption from the Sales Tax for Basic Needs Products and Offset the Loss
of Revenue |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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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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$520,475 |
$703,000 |
$717,250 |
$731,500 |
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| Revenue |
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General Fund |
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($520,475) |
($703,000) |
($717,250) |
($731,500) |
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Other Special Revenue Funds |
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($24,525) |
($37,000) |
($37,750) |
($38,500) |
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| Fiscal Detail
and Notes |
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The bill provides
a sales tax exemption for menstrual products and will reduce General Fund
revenue by $520,475 in fiscal year 2021-22 and $703,000 in fiscal year
2022-23. It will also reduce Local
Government Fund revenue by $24,525 in fiscal year 2021-22 and $37,000 in
fiscal year 2022-23. |
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