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132nd MAINE LEGISLATURE |
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LD 372 |
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LR 776(02) |
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An Act to Protect
Maine People from Inflation by Exempting Gold and Silver Coins and Bullion
from the State Sales and Use Tax |
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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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$297,000 |
$743,000 |
$762,000 |
$773,000 |
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| Revenue |
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General Fund |
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($297,000) |
($743,000) |
($762,000) |
($773,000) |
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Other Special Revenue Funds |
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($12,000) |
($39,000) |
($40,000) |
($41,000) |
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| Fiscal Detail
and Notes |
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This bill
includes a revenue decrease to the General Fund of $297,000 in fiscal year
2025-26 and $743,000 in fiscal year 2026-27 by providing sales and use tax
exemptions on sales of gold and silver coins and bullion effective January 1,
2026. The bill also includes a revenue decrease to the Local Government Fund
of $12,000 in fiscal year 2025-26 and $39,000 in fiscal year 2026-27. |
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