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132nd MAINE LEGISLATURE |
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LD 1500 |
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LR 1523(05) |
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An Act to
Establish the Maine Community Development Financial Institution Fund to
Support Small Businesses, Rural Economic Development and Affordable Housing |
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Fiscal Note for
Senate Amendment " " to Committee Amendment "A" |
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Sponsor: Sen. Rotundo of Androscoggin |
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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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($700,000) |
($200,000) |
($200,000) |
($200,000) |
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Appropriations/Allocations |
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Other Special Revenue Funds |
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($499,500) |
$500 |
$500 |
$500 |
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Revenue |
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General Fund |
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$200,000 |
$200,000 |
$200,000 |
$200,000 |
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Transfers |
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General Fund |
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$500,000 |
$0 |
$0 |
$0 |
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Other Special Revenue Funds |
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($500,000) |
$0 |
$0 |
$0 |
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Fiscal Detail
and Notes |
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The table
amendment removes the one-time transfer of $500,000 in fiscal year 2025-26
from the unappropriated surplus of the General Fund to the Maine Community
Development Financial Institution Fund within the Department of Economic and
Community Development. It also removes
the $200,000 annual loss of revenue to the General Fund. Finally, it removes the one-time Other
Special Revenue Funds allocation and creates an ongoing Other Special Revenue
Funds allocation to the new Fund of $500 beginning in fiscal year 2025-26. |
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