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132nd MAINE LEGISLATURE |
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LD 2078 |
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LR 2852(02) |
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An Act to
Establish the Electricity Cost Fairness Refundable Tax Credit |
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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 |
$5,245,000 |
$5,700,000 |
$5,890,000 |
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| Revenue |
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General Fund |
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$0 |
($5,245,000) |
($5,700,000) |
($5,890,000) |
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Other Special Revenue Funds |
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$0 |
($255,000) |
($300,000) |
($310,000) |
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| Fiscal Detail
and Notes |
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This bill would
result in a revenue decrease to the General Fund of $5,245,000 in fiscal year
2026-27 by exempting the sale and delivery of all residential electricity
from sales tax effective July 1, 2026. The bill would also result in a
revenue decrease to the Local Government Fund of $255,000 in fiscal year
2026-27. |
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