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131st MAINE LEGISLATURE |
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LD 1060 |
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LR 132(01) |
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An Act to Support
Municipal Public Safety by Increasing State-Municipal Revenue Sharing to 7
Percent |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Pres. Jackson of Aroostook |
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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 2023-24 |
FY 2024-25 |
Projections FY 2025-26 |
Projections FY 2026-27 |
| Net Cost
(Savings) |
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General Fund |
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$74,669,858 |
$102,906,849 |
$107,562,202 |
$116,172,878 |
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| Revenue |
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General Fund |
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($74,669,858) |
($102,906,849) |
($107,562,202) |
($116,172,878) |
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Other Special Revenue Funds |
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$74,669,858 |
$102,906,849 |
$107,562,202 |
$116,172,878 |
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| Fiscal Detail
and Notes |
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This bill
increases the revenue sharing percentage from 5% to 7%. Assuming an effective
date of October 1, 2023, this will reduce General Fund Revenue by $74,669,858
in fiscal year 2023-24 and $102,906,849 in fiscal year 2024-25, with
corresponding increases in Local Government Fund revenue. The additional
funding is to be used by municipalities for emergency fire and medical
services and law enforcement. |
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