131st MAINE LEGISLATURE
		LD 1303		LR 1884(02)
	An Act to Exempt Boats and All-terrain Vehicles Purchased for Qualified Commercial Fishing or Commercial Farming from State Sales Tax
	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		$70,300	$175,750	$184,300	$190,950
Revenue
	General Fund		($70,300)	($175,750)	($184,300)	($190,950)
	Other Special Revenue Funds		($3,700)	($9,250)	($9,700)	($10,500)
Fiscal Detail and Notes
	This bill adds utility vehicles to the existing sales tax refund for purchases of depreciable equipment for use in commerical agriculture, fishing, aquaculture and wood harvesting. It will reduce General Fund revenue by $70,300 in fiscal year 2023-24 and $175,750 in fiscal year 2024-25. It will also reduce Local Government Fund revenue by $3,700 in fiscal year 2023-24 and $9,250 in fiscal year 2024-25.