132nd MAINE LEGISLATURE
		LD 936		LR 27(03)
	An Act to Amend the Laws Regarding the Mining Excise Tax
	Fiscal Note for Bill as Engrossed with: C "A" (H-755)
	Committee: Taxation
Fiscal Note
Potential current biennium revenue decrease - General Fund Potential current biennium revenue decrease - Other Special Revenue Funds Potential future biennium revenue increase - General Fund Potential future biennium revenue increase - Other Trust Funds
Fiscal Detail and Notes
	This bill may result in an increase in mining excise tax revenue that would be split between the Mining Excise Tax Trust Fund (75%) and the General Fund (25%) and a minor decrease in sales tax revenue from the sales tax exemption for products used in commercial mining. The timing and magnitude of the revenue impact is uncertain but any significant impact is not expected prior to fiscal year 2026-27. The revenue decrease from the sales tax exemption is expected to be realized prior to the increase in mining excise tax revenue, therefore an initial revenue decrease is expected in fiscal year 2025-26. A more precise fiscal estimate cannot be determined at this time.