131st MAINE LEGISLATURE
		LD 1573		LR 27(02)
	An Act to Provide Financial Relief for Certain Volunteers Under the Corporation for National and Community Service, the Maine Service Fellows and the Maine Climate Corps
	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		$0	$68,000	$59,850	$62,700
Appropriations/Allocations
	General Fund		$0	$11,000	$0	$0
Revenue
	General Fund		$0	($57,000)	($59,850)	($62,700)
	Other Special Revenue Funds		$0	($3,000)	($3,150)	($3,300)
Fiscal Detail and Notes
	This bill subtracts from federal adjusted gross income for state income tax purposes an amount equal to a national service educational award received from the National Service Trust or an approved national service position or an educational loan payment earned through service with the Maine Service Fellows Program for tax years beginning on or after January 1, 2024. It will reduce General Fund revenue by $57,000 in fiscal year 2024-25. It will also reduce Local Government Fund revenue by $3,000 in fiscal year 2024-25. The bill includes a one-time General Fund appropriation to the Department of Administrative Services, Bureau of Revenue Services for computer programming costs to add a new line to the individual income tax form and complete updates and testing to implement the income subtraction modification.