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131st MAINE LEGISLATURE |
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LD 1552 |
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LR 171(07) |
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An Act to Create
the Lobster Innovation Fund |
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Fiscal Note for
Senate Amendment " " to Committee Amendment "A" |
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Sponsor: Pres. Jackson of Aroostook |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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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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($2,000,000) |
$50,000 |
$0 |
$0 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$50,000 |
$0 |
$0 |
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Other Special Revenue Funds |
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($1,500,000) |
$0 |
$0 |
$0 |
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| Transfers |
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General Fund |
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$2,000,000 |
$0 |
$0 |
$0 |
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Other Special Revenue Funds |
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($2,000,000) |
$0 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This amendment
removes the one-time transfer and related allocation of $2,000,000 in fiscal
year 2023-24 from the unappropriated surplus of the General Fund to the newly
established Lobster Innovation Fund (LIF) within the Department of Marine
Resources. Instead, the amendment provides a one-time transfer and related
allocation of $500,000 from the Department of Professional and Financial
Regulation, Bureau of Financial Institutions, Other Special Revenue Funds
account to the LIF in fiscal year 2023-24 and a one-time General Fund
appropriation of $50,000 in fiscal year 2024-25 for stipends to holders of
Class I, Class II, or Class III Lobster fishing licenses to participate in
the testing of new lobster fishing technologies. |
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