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125th MAINE LEGISLATURE |
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LD 1869 |
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LR 2762(02) |
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An Act To
Establish the Dairy Improvement Fund |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Agriculture, Conservation and
Forestry |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2011-12 |
FY 2012-13 |
Projections FY 2013-14 |
Projections FY 2014-15 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
($402,413) |
($205,231) |
($209,335) |
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| Appropriations/Allocations |
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Other Special Revenue Funds |
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$0 |
$0 |
$205,231 |
$209,335 |
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| Revenue |
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General Fund |
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$0 |
$402,413 |
$205,231 |
$209,335 |
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Other Special Revenue Funds |
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$0 |
$402,413 |
$410,462 |
$418,670 |
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| Fiscal Detail
and Notes |
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This legislation
dedicates until July 1, 2013, 1% of the Oxford Casino net slot income to the
dairy farm stabilization program and starting July 1, 2013, .5% to both the
dairy farm stabilization program and the Dairy Improvement Fund, a new fund
created within the Finance Authority of Maine to provide loans to assist
dairy farmers in making capital improvements.
These provisions will increase General Fund revenue and Other Special
Revenue Funds revenue to the Department of Agriculture, Food and Rural
Resources by $402,413 in fiscal year 2012-13.
This amount is based upon the March 2012 revenue forecast. |
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Since the
provisions in this legislation allow for the Fund to cover the costs
associated with administering the Dairy Improvement Fund, the Finance
Authority of Maine will require no additional General Fund appropriations. |
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