131st MAINE LEGISLATURE
		LD 1689		LR 1347(02)
	An Act to Exempt Prescription Pet Medications from 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		$707,750	$1,743,250	$1,805,950	$1,871,500
Revenue
	General Fund		($707,750)	($1,743,250)	($1,805,950)	($1,871,500)
	Other Special Revenue Funds		($37,250)	($91,750)	($95,050)	($98,500)
Fiscal Detail and Notes
	This bill establishes an exemption from the sales and use tax for medications for pets sold on a prescription by a person licensed to practice veterinary medicine. It will reduce General Fund revenue by $707,750 in fiscal year 2023-24 and $1,743,250 in fiscal year 2024-25. It will reduce Local Government Fund revenue by $37,250 in fiscal year 2023-24 and $91,750 in fiscal year 2024-25.