125th MAINE LEGISLATURE
LD 1044 LR 832(01)
An Act To Allow a Tax Credit for Tuition Paid to Private Schools
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Rep. Fitzpatrick of Houlton
Committee: Taxation
Fiscal Note Required: Yes
             
Preliminary Fiscal Impact Statement
FY 2011-12 FY 2012-13 Projections  FY 2013-14 Projections  FY 2014-15
Net Cost (Savings)
General Fund $10,212,500 $10,212,500 $10,212,500 $10,212,500
Revenue
General Fund ($10,212,500) ($10,212,500) ($10,212,500) ($10,212,500)
Other Special Revenue Funds ($537,500) ($537,500) ($537,500) ($537,500)
Fiscal Detail and Notes
Providing an income tax credit of up to $2,000 per taxpayer for tuition paid to a private school for the taxpayer or a dependent of the taxpayer will reduce General Fund revenues and reduce revenue sharing.