132nd MAINE LEGISLATURE
		LD 1857		LR 1856(02)
	An Act to Expand Property Tax Relief for Veterans and Their Survivors and to Modify Certain Corporate Tax Expenditures
	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		$32,150	($126,350)	$3,213,650	$3,213,650
Appropriations/Allocations
	General Fund		$32,150	$0	$4,100,000	$4,100,000
Revenue
	General Fund		$0	$126,350	$886,350	$886,350
	Other Special Revenue Funds		$0	$6,650	$46,650	$46,650
Fiscal Detail and Notes
	This bill would result in a revenue increase to the General Fund of $126,350 in fiscal year 2026-27 and an ongoing revenue increase to the General Fund of $886,350 in future biennias by eliminating tax credits for investments in qualified professional baseball facilities and for major business headquarters expansions for tax years beginning January 1, 2026 and later. The bill would also result in a revenue increase to the Local Government Fund of $6,650 in fiscal year 2026-27 and an ongoing revenue increase to the Local Government Fund of $46,650 in future biennias. Additionally, the bill includes a one-time General Fund appropriation to the Bureau of Revenue Services within the Department of Administrative and Financial Services of $32,150 in fiscal year 2025-26 to fund computer programming costs associated with the provisions of this bill. Ongoing General Fund appropriations of $4,100,000 will be required in future biennias to provide funding for increased property tax exemption reimbursements for veterans for property tax years beginning on or after April 1, 2026.