131st MAINE LEGISLATURE
		LD 2028		LR 2807(03)
	An Act to Amend Certain State Tax Laws
	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	($976,000)	($2,555,000)	($2,714,000)
Revenue
	General Fund		$0	$976,000	$2,555,000	$2,714,000
	Other Special Revenue Funds		$0	$1,000	$3,000	$4,000
Fiscal Detail and Notes
	Amending the products subject to the tobacco products tax to include products containing synthetic nicotine will increase tobacco products tax revenue by $951,000 in fiscal year 2024-25 and increase sales tax revenue by $26,000 in fiscal year 2024-25. The increase in sales tax revenue results from an estimated increase in retail prices in response to the excise tax on products containing synthetic nicotine. Local Government Fund revenue will increase by $1,000 in fiscal year 2024-25.
	This bill also requires that transfers from the General Fund to several Other Special Revenue Fund accounts be calculated after the reduction of General Fund revenue for transfers of revenue attributable to tax collected on sales occurring on tribal lands. This will ensure that not more than 100% of revenue attributable to tax collected on sales occuring on tribal lands is transferred out of the General Fund and will result in minor decreases in revenue in the affected Other Special Revenue Funds accounts.