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132nd MAINE LEGISLATURE |
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LD 1755 |
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LR 1875(02) |
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An Act to
Increase the Maine Historic Property Rehabilitation Tax Credit in Rural Areas |
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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 |
$179,550 |
$398,050 |
$938,600 |
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| Revenue |
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General Fund |
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$0 |
($179,550) |
($398,050) |
($938,600) |
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Other Special Revenue Funds |
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$0 |
($9,450) |
($20,950) |
($49,400) |
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| Fiscal Detail
and Notes |
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This bill
includes a revenue decrease to the General Fund of $368,125 in fiscal year
2026-27 by increasing the tax credit for rehabilitation of historic
properties available to eligible projects that are located in rural areas in
this State beginning on tax years on or after January 1, 2025. The bill also
includes a revenue decrease to the Local Government Fund of $19,375 in fiscal
year 2026-27. |
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