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132nd MAINE LEGISLATURE |
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LD 544 |
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LR 766(02) |
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An Act to Create
Parity in the Taxation of Medicine by Exempting Sales of Cannabis for Medical
Use |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Veterans and Legal Affairs |
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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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$9,970,320 |
$25,737,000 |
$26,259,000 |
$26,830,000 |
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| Appropriations/Allocations |
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General Fund |
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$53,320 |
$0 |
$0 |
$0 |
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| Revenue |
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General Fund |
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($9,917,000) |
($25,737,000) |
($26,259,000) |
($26,830,000) |
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Other Special Revenue Funds |
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($968,000) |
($3,265,000) |
($3,456,000) |
($3,652,000) |
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| Fiscal Detail
and Notes |
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This bill exempts
sales of medical cannabis that meet certain requirements from sales tax
beginning January 1, 2026. This exemption will reduce General Fund revenue by
$9,917,000 in fiscal year 2025-26 and $25,737,000 in fiscal year 2026-27. The
exemption will also decrease revenue to the Local Government Fund of $439,000
in fiscal year 2025-26 and $1,448,000 in fiscal year 2026-27, as well as
decrease revenue to the Adult Use Cannabis Public Health and Safety and
Municipal Opt-in Fund by $529,000 in fiscal year 2025-26 and by $1,817,000 in
fiscal year 2026-27. |
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The bill includes
a one-time General Fund appropriation to the Bureau of Revenue Services
within the Department of Administrative and Financial Services of $53,320 in
fiscal year 2025-26 to fund computer programming costs associated with the
provisions of this bill. |
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