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132nd MAINE LEGISLATURE |
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LD 299 |
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LR 844(06) |
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An Act to Build a
Viable Future for Maine Agriculture by Transferring a Portion of Real Estate
Transfer Tax Revenue to the Maine Agriculture, Food and Forest Products
Investment Fund |
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Fiscal Note for
Senate Amendment " " to Committee Amendment "A" |
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Sponsor: Sen. Hickman of Kennebec |
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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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$0 |
($5,000,000) |
($5,000,000) |
($5,000,000) |
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| Appropriations/Allocations |
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Other Special Revenue Funds |
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$0 |
$195,000,000 |
($5,000,000) |
($5,000,000) |
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| Revenue |
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General Fund |
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$0 |
$5,000,000 |
$5,000,000 |
$5,000,000 |
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Other Special Revenue Funds |
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$0 |
($5,000,000) |
($5,000,000) |
($5,000,000) |
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| Transfers |
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General Fund |
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$0 |
$0 |
$0 |
$0 |
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Other Special Revenue Funds |
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$0 |
$200,000,000 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This amendment
removes the provisions directing the transfer of a portion of the revenue
from the real estate transfer tax. Instead, the amendment authorizes a
one-time transfer of $200,000,000 in fiscal year 2026-27 from the Maine
Budget Stabilization Fund to be distributed to the following programs within
the Department of Agriculture, Conservation and Forestry (ACF) and the
Finance Authority of Maine (FAME). |
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ACF |
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Maine Agriculture, Food and Forest
Products Investment Fund |
$100,000,000 |
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Farmers Drought Relief Grant
Program |
$15,000,000 |
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Maine Healthy Soils Program |
$15,000,000 |
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Maine Working Farmland Access and
Protection Program |
$30,000,000 |
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FAME |
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Dairy Improvement Fund |
$25,000,000 |
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Improvements to Logging and Fishing
Enterprises Loan Fund |
$15,000,000 |
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