125th MAINE LEGISLATURE
LD 22 LR 23(03)
An Act To Improve the Maine Seed Capital Tax Credit
Fiscal Note for Bill as Engrossed with:
C "A" (H-217)
Committee: Taxation
             
Fiscal Note
FY 2011-12 FY 2012-13 Projections  FY 2013-14 Projections  FY 2014-15
Net Cost (Savings)
General Fund $0 $53,200 $32,300 $12,350
Revenue
General Fund $0 ($53,200) ($32,300) ($12,350)
Other Special Revenue Funds $0 ($2,800) ($1,700) ($650)
Fiscal Detail and Notes
Expanding the Maine Seed Capital Tax Credit will reduce income tax revenues beginning in fiscal year 2013.  Any additional costs to Maine Revenue Services associated with administrating the credits can be absorbed within existing budgeted resources.  
Additional costs to the Finance Authority of Maine associated with rulemaking can be absorbed within existing budgeted resources.