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132nd MAINE LEGISLATURE |
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LD 299 |
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LR 844(09) |
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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. Stewart of Aroostook |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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| Current biennium cost increase - General Fund |
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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 |
($5,000,000) |
($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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| Bond Issues |
Term (years) |
Principal |
Rate (%) |
Interest |
Total Cost |
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General Fund - Non-Taxable |
10 |
$45,000,000 |
5.0% |
$12,375,000 |
$57,375,000 |
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| Referendum
Costs |
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Month/Year |
Election Type |
Question |
Length |
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Nov-26 |
General |
Bond Issue |
Standard |
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The Secretary of
State's budget includes sufficient funds to accommodate one ballot of average
length for the general election in November. If the number or size of the
referendum questions requires production and delivery of a second ballot, an
additional appropriation of $411,000 may be required. |
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| Fiscal Detail
and Notes |
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This floor
amendment removes the General Fund appropriations from the bill and adds a
General Obligation bond. |
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