131st MAINE LEGISLATURE
		LD 1060		LR 132(02)
	An Act to Support Municipal Public Safety by Increasing State-Municipal Revenue Sharing to 7 Percent
	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		$74,669,858	$102,906,849	$107,562,202	$116,172,878
Revenue
	General Fund		($74,669,858)	($102,906,849)	($107,562,202)	($116,172,878)
	Other Special Revenue Funds		$74,669,858	$102,906,849	$107,562,202	$116,172,878
Fiscal Detail and Notes
	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.