132nd MAINE LEGISLATURE
		LD 554		LR 123(03)
	An Act to Encourage Resident-owned Communities and Preserve Affordable Housing Through Tax Deductions
	Fiscal Note for Bill as Engrossed with: C "A" (S-163)
	Committee: Taxation
Fiscal Note
			FY 2025-26	FY 2026-27	Projections  FY 2027-28	Projections  FY 2028-29
Net Cost (Savings)
	General Fund		$76,000	$76,000	$76,000	$76,000
Revenue
	General Fund		($76,000)	($76,000)	($76,000)	($76,000)
	Other Special Revenue Funds		($4,000)	($4,000)	($4,000)	($4,000)
Fiscal Detail and Notes
	This bill includes an ongoing revenue decrease to the Bureau of Revenue Services within the Department of Administrative and Financial Services of $76,000 by excluding from state income tax the amount of gain, up to a maximum of $750,000, recognized by a taxpayer in transferring the business to a cooperative affordable housing corporation or a municipal housing authority. Any additional costs to the Office of Program Evaluation and Government Accountability (OPEGA) are assumed to be minor and can be absorbed within existing budgeted resources.