LD 996 LR 489(05)
An Act To Improve the Accuracy of Fuel Tax Reporting
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
Fiscal Note Required: Yes
Fiscal Note
FY 2013-14 FY 2014-15 Projections  FY 2015-16 Projections  FY 2016-17
Net Cost (Savings)
General Fund $0 $0 $404 $404
Highway Fund $0 $0 $535,134 $535,134
General Fund $0 $0 ($404) ($404)
Highway Fund $0 $0 ($535,134) ($535,134)
Other Special Revenue Funds $0 $0 ($50,463) ($50,463)
Fiscal Detail and Notes
This bill proposes to allow for the option of calculating the shrinkage allowance using net gallons of fuel, which would decrease Highway Fund revenue by $535,134 beginning in fiscal year 2015-16.  It will also decrease General Fund revenue and Other Special Revenue Funds revenue within the Departments of Agriculture, Conservation and Forestry, Inland Fisheries and Wildlife and Marine Resources, as well as the TransCap Trust Fund within the Maine Municipal Bond Bank, for their portions of fuel tax receipts.  This analysis is based upon actual tax returns filed by licensed distributors.