| 122nd MAINE LEGISLATURE | |||||||||
| LD 2091 | LR 3196(02) | ||||||||
| An Act to Make Changes to the Laws Regarding Pine Tree Development Zones | |||||||||
| Fiscal Note for Bill as Amended by Committee Amendment " " | |||||||||
| Committee: Business, Research and Economic Development | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Potential revenue decrease - General Fund | |||||||||
| Minor cost increase - General Fund | |||||||||
| Fiscal Detail and Notes | |||||||||
| This bill may reduce Individual Income Tax, Corporate Tax and Sales and Use Tax revenue if there is a business failure that meets the criteria for one of the waivers in the bill and the location becomes eligible for Pine Tree Zone benefits. The potential annual revenue loss in the initial years of benefit eligibility is approximately $960,000 based on an assumed re-investment level of $50 million and the hiring of approximately 375 workers. | |||||||||
| The additional costs to the Department of Economic and Community Development can be absorbed by the department utilizing existing budgeted resources. | |||||||||