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126th MAINE LEGISLATURE |
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LD 436 |
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LR 609(02) |
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An Act To Raise
the Maximum 529 Plan Contribution Tax Deduction |
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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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$277,400 |
$233,700 |
$245,100 |
$257,450 |
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| Revenue |
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General Fund |
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($277,400) |
($233,700) |
($245,100) |
($257,450) |
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Other Special Revenue Funds |
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($14,600) |
($12,300) |
($12,900) |
($13,550) |
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| Fiscal Detail
and Notes |
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This bill reduces
General Fund revenue and Municipal Revenue Sharing due to increasing the
maximum deduction to $500 per designated beneficiary for contributions made
to a qualified tuition program established under Section 529 of the United
States Internal Revenue Code of 1986. |
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