124th MAINE LEGISLATURE
		LD 618		LR 1420(02)
	An Act To Reduce Income Tax on Capital Gains
	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		$64,504,110	$49,561,440	$51,937,010	$54,120,951
Appropriations/Allocations
	General Fund		$33,000	$0	$0	$0
Revenue
	General Fund		($64,471,110)	($49,561,440)	($51,937,010)	($54,120,951)
	Other Special Revenue Funds		($3,536,390)	($2,718,560)	($2,848,866)	($2,968,660)
Fiscal Detail and Notes
	Excluding one-half of long-term capital gains from individual and corporate taxes will reduce General Fund revenue by an estimated $64,471,100 in FY 2009-10 and $49,561,440 in FY 2010-11.  Excluding one-half of long-term capital gains will also reduce revenue to and distributions from Municipal Revenue Sharing by $3,536,390 in FY 2009-10 and $2,718,560 in FY 2010-11.  Costs to Maine Revenue Services for computer programming to accommodate these changes will be $33,000 in the FY 2009-10.