123rd MAINE LEGISLATURE
LD 529 LR 1143(01)
An Act To Encourage Newly Retired Veterans To Reside in Maine
Fiscal Note for Original Bill
Sponsor: Rep. Watson of Bath
Committee: Taxation
Fiscal Note Required: Yes
             
Fiscal Note
2007-08 2008-09 Projections 2009-10 Projections 2010-11
Net Cost (Savings)
General Fund $371,237 $506,742 $753,490 $1,023,370
Appropriations/Allocations
General Fund $11,000 $0 $0 $0
Revenue
General Fund ($360,237) ($506,742) ($753,490) ($1,023,370)
Other Special Revenue Funds ($19,760) ($27,796) ($41,331) ($56,134)
Fiscal Detail and Notes
Exempting from the state income tax certain military retitrement benefits will reduce General Fund revenue by an estimated $360,237 in fiscal year 2007-08 and $506,742 in fiscal year 2008-09.  Maine Revenue Services will also require a one-time General Fund appropriation of $11,000 in fiscal year 2007-08 for the related computer programming costs