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132nd MAINE LEGISLATURE |
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LD 192 |
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LR 122(02) |
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An Act to Exempt
from State Sales Tax Utility Vehicles Purchased for Use in Commercial
Fishing, Agricultural Production, Aquacultural Production and Wood Harvesting |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2025-26 |
FY 2026-27 |
Projections FY 2027-28 |
Projections FY 2028-29 |
| Net Cost
(Savings) |
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General Fund |
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$88,350 |
$214,700 |
$217,550 |
$219,450 |
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| Revenue |
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General Fund |
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($88,350) |
($214,700) |
($217,550) |
($219,450) |
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Other Special Revenue Funds |
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($4,650) |
($11,300) |
($11,450) |
($11,550) |
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| Fiscal Detail
and Notes |
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This bill includes
a revenue decrease to the General Fund of $88,350 in fiscal year 2025-26 and
$214,700 in fiscal year 2026-27 by including utility vehicles in the existing
sales tax refund for purchases of depreciable machinery and equipment for use
in commercial agricultural production, commercial fishing, commercial
aquacultural production or commercial wood harvesting effective January 1,
2026. The bill also includes a revenue decrease to the Local Government Fund
of $4,650 in fiscal year 2025-26 and $11,300 in fiscal year 2026-27. |
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