131st MAINE LEGISLATURE
		LD 1979		LR 2570(02)
	An Act Regarding Surplus Lines Insurance Tax
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
Minor cost increase - General Fund Minor revenue decrease - General Fund
Fiscal Detail and Notes
	This bill removes the imposition of a higher rate of tax on premiums for direct insurance and annuity considerations for insurers that are incorporated outside of the State. Additional costs to the Department of Administrative and Financial Services, Bureau of Revenue Services to implement this change are expected to be minor and can be absorbed within existing budgeted resources. General Fund revenue is expected to decrease by minor amounts.