| 122nd MAINE LEGISLATURE | |||||||||
| LD 306 | LR 0671(01) | ||||||||
| An Act To Create the Family Technology Tax Credit | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Bliss of South Portland | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $14,161,786 | $11,667,694 | $10,741,737 | $9,660,836 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $26,126 | $17,349 | $18,936 | $19,656 | |||||
| Revenue | |||||||||
| General Fund | ($14,135,660) | ($11,650,345) | ($10,722,801) | ($9,641,180) | |||||
| Other Special Revenue Funds | ($775,374) | ($639,048) | ($588,171) | ($528,841) | |||||
| Fiscal Detail and Notes | |||||||||
| Providing an income tax exemption for certain computer purchases is expected to decrease General Fund revenue by $14,135,660 in fiscal year 2005-06 and $11,650,345 in fiscal year 2006-07 and to decrease Other Special Revenue funds for state-municipal revenue sharing by $775,374 in fiscal year 2005-06 and $639,048 in fiscal year 2006-07. Maine Revenue Services will also require a General Fund appropriation of $26,126 in fiscal year 2005-06 and $17,349 in fiscal year 2006-07 for the administrative costs associated with this new exemption. | |||||||||