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126th MAINE LEGISLATURE |
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LD 318 |
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LR 924(02) |
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An Act To
Establish a Sales Tax Holiday for Purchases Made during the Month of
January
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2013-14 |
FY 2014-15 |
Projections FY 2015-16 |
Projections FY 2016-17 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$3,665,000 |
$0 |
$0 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$150,000 |
$0 |
$0 |
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| Revenue |
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General Fund |
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$0 |
($3,515,000) |
$0 |
$0 |
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Other Special Revenue Funds |
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$0 |
($185,000) |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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Exempting
purchases of individual clothing items costing $200 or less and individual
school supplies costing $100 or less made on August 23, 2014 from the sales
tax reduces General Fund revenue by $3,515,000 and Municipal Revenue Sharing
by $185,000 in FY 2014-15. This bill
includes a one-time General Fund appropriation to Maine Revenue Services in
fiscal year 2014-15 for sales tax reporting requirements. |
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