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132nd MAINE LEGISLATURE |
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LD 1211 |
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LR 1359(03) |
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An Act Regarding
Certain Definitions in the Sales and Use Tax Laws Affecting Rental Equipment
and Automobiles Used in Transporting Goods |
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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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$0 |
$0 |
$362,000 |
$0 |
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| Revenue |
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General Fund |
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$0 |
$0 |
($362,000) |
$0 |
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Other Special Revenue Funds |
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$0 |
$0 |
($19,000) |
$0 |
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| Fiscal Detail
and Notes |
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This bill would
result in a one-time revenue decrease to the General Fund of $362,000 in
fiscal year 2027-28 by allowing businesses that operate eight or fewer months
per year to apply for a refund of sales and use tax paid on qualifying lease
or rental property purchased on or after January 1, 2022 and before January
1, 2025. The fiscal note assumes all additional refunds allowed as a result
of this bill would be claimed in fiscal year 2027-28. The bill would also
result in a one-time revenue decrease to the Local Government Fund of $19,000
in fiscal year 2027-28. |
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