124th MAINE LEGISLATURE
		LD 618		LR 1420(01)
	An Act To Reduce Income Tax on Capital Gains
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Smith of Piscataquis
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
			2009-10	2010-11	Projections 2011-12	Projections 2012-13
Net Cost (Savings)
	General Fund		$42,693,000	$42,660,000	$42,660,000	$42,660,000
Appropriations/Allocations
	General Fund		$33,000	$0	$0	$0
Revenue
	General Fund		($42,660,000)	($42,660,000)	($42,660,000)	($42,660,000)
	Other Special Revenue Funds		($2,340,000)	($2,340,000)	($2,340,000)	($2,340,000)
Fiscal Detail and Notes
	Excluding one-half of long-term capital gains from individual and corporate income taxes will reduce General Fund revenue by an estimated $42,660,000 annually.  Excluding one-half of long-term capital gains will also reduce revenue to and distributions from Municipal Revenue Sharing.  Costs to Maine Revenue Services for computer programming to accommodate these changes will be $33,000 in the FY 2009-10.