|
|
|
|
|
|
|
|
131st MAINE LEGISLATURE |
|
|
LD 1276 |
|
LR 1824(04) |
|
|
|
An Act to Create
and Sustain Jobs and Affordable Housing Through the Development of
Cooperatives and Employee-owned Businesses |
|
Fiscal Note for
Senate Amendment " " to Committee Amendment "A" |
|
Sponsor: Sen. Rotundo of Androscoggin |
|
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 |
|
$0 |
($432,000) |
($413,250) |
($427,500) |
|
|
|
|
|
|
|
| Appropriations/Allocations |
|
|
|
|
|
|
General Fund |
|
$0 |
($33,000) |
$0 |
$0 |
|
Federal Expenditures Fund |
|
($500) |
$0 |
$0 |
$0 |
|
|
|
|
|
|
|
| Revenue |
|
|
|
|
|
|
General Fund |
|
$0 |
$399,000 |
$413,250 |
$427,500 |
|
Other Special Revenue Funds |
|
$0 |
$21,000 |
$21,750 |
$22,500 |
|
|
|
|
|
|
|
| Fiscal Detail
and Notes |
|
|
|
|
|
|
This amendment
reduces the ongoing revenue loss in the bill by limiting the application of
the tax deduction to businesses that provide housing. Relative to the
committee amendment, the General Fund revenue loss is reduced by $399,000 to
$47,500 and the Local Government Fund Revenue loss is reduced by $21,000 to
$2,500 in fiscal year 2024-25. The amendment also reduces the one-time
General Fund appropriation to the Department of Administrative and Financial
Services, Bureau of Revenue Services for implementation costs by $33,000 in
fiscal year 2024-25. The Federal Expenditures Fund allocation of $500 is
removed from fiscal year 2023-24 but remains in subsequent years. |
|
|
|
|
|
|
|