LD 1664 LR 2617(04)
An Act To Encourage Charitable Contributions to Nonprofit Organizations
Fiscal Note for Senate Amendment " " to Committee Amendment "A"
Sponsor: Sen. Hill of York
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 ($1,343,300) $0 $0
General Fund $0 $1,343,300 $0 $0
Other Special Revenue Funds $0 $70,700 $0 $0
Fiscal Detail and Notes
This amendment removes the provision in the committee amendment that, for tax years beginning January 1, 2015, charitable contributions included in federal itemized deductions that exceed the Maine itemized deductions limit by $10,000 may be claimed.  This provision eliminates the General Fund and Local Government Fund revenue losses of $1,343,300 and $70,700, respectively, in fiscal year 2014-15 only as compared to the committee amendment.  Revenues continue to be reduced beginning in fiscal year 2015-16 as shown in the committee amendment.