132nd MAINE LEGISLATURE
		LD 1734		LR 2190(02)
	An Act to Exempt Over-the-counter Medicines from the Sales and Use Tax
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2025-26	FY 2026-27	Projections  FY 2027-28	Projections  FY 2028-29
Net Cost (Savings)
	General Fund		$11,094,000	$26,598,000	$27,118,000	$27,792,000
Revenue
	General Fund		($11,094,000)	($26,598,000)	($27,118,000)	($27,792,000)
	Other Special Revenue Funds		($462,000)	($1,399,000)	($1,425,000)	($1,460,000)
Fiscal Detail and Notes
	This bill includes a revenue decrease to the General Fund of $11,094,000 in fiscal year 2025-26 and $26,598,000 in fiscal year 2026-27 by exempting sales of over-the-counter medicines and drugs from sales and use tax effective January 1, 2026. The bill also includes a revenue decrease to the Local Government Fund of $462,000 in fiscal year 2025-26 and $1,399,000 in fiscal year 2026-27.