LD 980 LR 1039(01)
An Act To Restore Revenue Sharing
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Rep. Tepler of Topsham
Committee: Taxation
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
FY 2015-16 FY 2016-17 Projections  FY 2017-18 Projections  FY 2018-19
Net Cost (Savings)
General Fund ($64,462,043) ($42,974,695) ($21,487,348) $0
General Fund $64,462,043 $42,974,695 $21,487,348 $0
Other Special Revenue Funds ($64,462,043) ($42,974,695) ($21,487,348) $0
Fiscal Detail and Notes
The bill reduces the amount of state-municipal revenue sharing received by municipalities and increases General Fund revenue by $64,462,043 in fiscal year 2015-16 and $42,974,695 in fiscal year 2016-17.  Under current law revenue sharing is being reduced by $86,000,000 in fiscal year 2014-15, but will not be reduced in the years affected by this bill.  This bill may be in conflict with certain other proposals before the Legislature.