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131st MAINE LEGISLATURE |
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LD 1954 |
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LR 2553(04) |
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An Act to Address
the Recent Mill Closure in the Town of Jay by Providing Funds to Offset
Property Tax Loss |
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Fiscal Note for
Senate Amendment " " to Committee Amendment "A" |
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Sponsor: Sen. Bennett of Oxford |
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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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$0 |
($600,000) |
$0 |
$0 |
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| Appropriations/Allocations |
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General Fund |
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($600,000) |
$0 |
$0 |
$0 |
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Other Special Revenue Funds |
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$600,000 |
($600,000) |
$0 |
$0 |
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| Transfers |
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General Fund |
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($600,000) |
$600,000 |
$0 |
$0 |
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Other Special Revenue Funds |
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$600,000 |
($600,000) |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This amendment
removes the General Fund appropriation of $600,000 to the Office of the State
Controller in fiscal year 2023-24 to provide payment to the Town of Jay to
help offset property tax revenue loss due to a mill closure.
The amendment now includes a transfer of $600,000 from the unapprorpriated
surplus of the General Fund to the Office of the Treasurer of State,
State-Municipal Revenue Sharing program, Other Special Revenue funds account
and an allocation of $600,000 for a one-time advance payment to the town of
Jay on or before December 31, 2023 of the town's fiscal year 2024-25
municipal revenue sharing funds. The amendment also includes a deallocation
of $600,000 and transfer back to the uanppropriated surplus of the General Fund
of the same amount in fiscal year 2024-25 for the reduction in municipal
revenue sharing payments made to the Town of Jay as reimbursement to the
State for the advance payment in fiscal year 2023-24. |
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