131st MAINE LEGISLATURE
		LD 541		LR 1108(02)
	An Act to Create Parity in the Taxation of Medicine
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2023-24	FY 2024-25	Projections  FY 2025-26	Projections  FY 2026-27
Net Cost (Savings)
	General Fund		$5,472,120	$11,614,700	$9,985,450	$8,698,200
Appropriations/Allocations
	General Fund		$53,320	$0	$0	$0
Revenue
	General Fund		($5,418,800)	($11,614,700)	($9,985,450)	($8,698,200)
	Other Special Revenue Funds		($285,200)	($611,300)	($525,550)	($457,800)
Fiscal Detail and Notes
	This bill adds medical cannabis to the sales tax exemption that applies to medicines sold on a doctor's prescription effective January 1, 2024. It will reduce General Fund revenue by $5,418,800 in fiscal year 2023-24 and $11,614,700 in fiscal year 2024-25. It will also reduce Local Government Fund revenue by $285,200 in fiscal year 2023-24 and $611,300 in fiscal year 2024-25.  The bill includes a one-time General Fund appropriation to the Department of Administrative and Financial Services of $53,320 in fiscal year 2023-24 for computer programming costs.