131st MAINE LEGISLATURE
		LD 2143		LR 2894(03)
	An Act to Dedicate the Revenue from the Sales Tax on Electricity to Low-income Ratepayer Assistance
	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	$5,928,000	$14,118,000	$14,799,000
Revenue
	General Fund		$0	($5,928,000)	($14,118,000)	($14,799,000)
	Other Special Revenue Funds		$0	($257,000)	($740,000)	($776,000)
Fiscal Detail and Notes
	Expanding the current sales tax exemption for residential electricity to exempt the sale and delivery of all residential electricity beginning January 1, 2025 will reduce revenue to the General Fund by $5,928,000 in fiscal year 2024-25 and reduce revenue to the Local Government Fund by $257,000 in fiscal year 2024-25. In the next two fiscal years, General Fund revenue will decrease by approximately $14.5 million per year on average and  Local Government Fund revenue will decrase by approximately $760,000 per year on average.