132nd MAINE LEGISLATURE
		LD 195		LR 720(02)
	An Act to Create the Small Business Capital Savings Account Program
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Housing and Economic Development
	Fiscal Note Required: Yes
Fiscal Note
			FY 2025-26	FY 2026-27	Projections  FY 2027-28	Projections  FY 2028-29
Net Cost (Savings)
	General Fund		$0	$165,594	$152,750	$152,750
Appropriations/Allocations
	General Fund		$0	$27,844	$15,000	$15,000
Revenue
	General Fund		$0	($137,750)	($137,750)	($137,750)
	Other Special Revenue Funds		$0	($7,250)	($7,250)	($7,250)
Fiscal Detail and Notes
	This bill includes a revenue decrease to the General Fund of $137,750 in fiscal year 2026-27 by establishing the Small Business Capital Savings Account Program in the Department of Economic and Community Development and creates a tax deduction for approved funds withdrawn from the Small Business Capital Savings Account Program for capital expenditures. The bill clarifies that withdrawals are taxable income if not used for capital expenditures. The bill also includes a revenue decrease to the Local Government Fund of $7,250 in fiscal year 2026-27. Additionally, the bill includes a one-time General Fund appropriation to the Bureau of Revenue Services within the Department of Administrative and Financial Services of $12,844 in fiscal year 2026-27 to fund computer programming costs associated with the provisions of this bill.
	This bill also includes ongoing General Fund appropriations of $15,000 per year from fiscal year 2026-27 through fiscal year 2029-30 to the Department of Economic and Community Development to contract for professional services to certify eligible withdrawals from the newly established Small Business Capital Savings Account program.