124th MAINE LEGISLATURE
		LD 540		LR 1129(02)
	An Act To Promote Forest Certification and Long-term Forest Management
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			2009-10	2010-11	Projections 2011-12	Projections 2012-13
Net Cost (Savings)
	General Fund		$48,449	$42,989	$43,849	$44,726
Revenue
	General Fund		($48,449)	($42,989)	($43,849)	($44,726)
	Other Special Revenue Funds		($2,658)	($2,358)	($2,405)	($2,453)
Fiscal Detail and Notes
	Increasing the existing $200 maximum income tax credit allowed once in a ten year period for a professional forest land management plan to a $400 maximum credit will reduce revenue to the General Fund by $48,449 in FY 2009-10 and $42,989 in FY 2010-11.  Increasing the tax credit will also reduce the revenue to and distributions from Municipal Revenue Sharing by $2,658 in FY 2009-10 and $2,358 in FY 2010-11.  Administrative costs to Maine Revenue Services associated with this change can be absorbed within existing budgeted resources.