131st MAINE LEGISLATURE
		LD 1392		LR 410(03)
	An Act to Change How the Adult Use Cannabis Excise Tax Is Calculated
	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		($1,472,000)	($6,843,000)	($11,612,000)	($13,104,000)
Revenue
	General Fund		$1,472,000	$6,843,000	$11,612,000	$13,104,000
	Other Special Revenue Funds		$201,000	$1,266,000	$2,327,000	$2,623,000
Fiscal Detail and Notes
	This bill increases the sales tax on adult use cannabis and adult use cannabis products to 12.5% as of January 1, 2024 and 15% as of January 1, 2025. The net impact to the General Fund is an increase in revenue of $1,472,000 in fiscal year 2023-24 and $6,843,000 in fiscal year 2024-25. This total includes increased cannabis sales tax revenue of $1,912,000 in fiscal year 2023-24 and $9,249,000 in fiscal year 2024-25, combined with decreased cannabis excise tax revenue of $239,000 in fiscal year 2023-24 and $1,140,000 in fiscal year 2024-25 and increased transfers to the Local Government Fund and to the Adult Use Cannabis Public Health and Safety and Municipal Opt-in Fund totaling $201,000 in fiscal year 2023-24 and $1,266,000 in fiscal year 2024-25.