| 122nd MAINE LEGISLATURE | |||||||||
| LD 716 | LR 1676(01) | ||||||||
| An Act To Create an Income Tax Checkoff To Support Veterans' Cemeteries | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Thompson of China | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $15,154 | $5,412 | $5,424 | $5,438 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $15,154 | $5,412 | $5,424 | $5,438 | |||||
| Other Special Revenue Funds | $42,500 | $50,000 | $50,000 | $50,000 | |||||
| Revenue | |||||||||
| Other Special Revenue Funds | $42,500 | $50,000 | $50,000 | $50,000 | |||||
| Fiscal Detail and Notes | |||||||||
| Establishing an income tax checkoff for the Maine Veterans' Memorial Cemetery Maintenance Fund may increase Other Special Revenue by an estimated $50,000 annually. Maine Revenue Services will also require $15,154 in fiscal year 2005-06 and $5,412 in fiscal year 2006-07 for the additional costs associated with this checkoff. This estimate of fiscal impact reflects those administrative costs as a cost to the General Fund. If sufficient revenue is generated to permit the $2,000 transfer, the General Fund need could be reduced accordingly. | |||||||||