132nd MAINE LEGISLATURE
		LD 715		LR 1257(01)
	An Act to Provide Property Tax Relief by Increasing the Availability of the Property Tax Fairness Credit Based on a Resident's Age and Income
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Milliken of Blue Hill
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
			FY 2025-26	FY 2026-27	Projections  FY 2027-28	Projections  FY 2028-29
Net Cost (Savings)
	General Fund		$0	$2,974,960	$2,968,750	$2,992,500
Appropriations/Allocations
	General Fund		$0	$77,460	$0	$0
Revenue
	General Fund		$0	($2,897,500)	($2,968,750)	($2,992,500)
	Other Special Revenue Funds		$0	($152,500)	($156,250)	($157,500)
Fiscal Detail and Notes
	This bill includes a revenue decrease to the General Fund of $2,897,500 in fiscal year 2026-27 by expanding the availability of the property tax fairness credit based on resident age and income effective tax year 2026. The bill also includes a revenue decrease to the Local Government Fund of $152,500 in fiscal year 2026-27. The Bureau of Revenue Services within the Department of Administrative and Financial Services will require a one-time General Fund appropriation of $77,460 in fiscal year 2026-27 to fund computer programming costs associated with the provisions of this bill.