LD 935 LR 522(02)
An Act To Exempt from Taxation Certain Out-of-state Pensions
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
Fiscal Note Required: Yes
Fiscal Note
FY 2017-18 FY 2018-19 Projections  FY 2019-20 Projections  FY 2020-21
Net Cost (Savings)
General Fund $0 $403,000 $380,000 $380,000
General Fund $0 $11,000 $0 $0
General Fund $0 ($392,000) ($380,000) ($380,000)
Other Special Revenue Funds $0 ($8,000) ($20,000) ($20,000)
Fiscal Detail and Notes
The bill provides an income tax exemption for certain out-of-state pensions and would result in a loss of General Fund revenue of $392,000 in fiscal year 2018-19 and a loss of Local Government Fund revenue of $8,000 in fiscal year 2018-19.  The bill includes a General Fund appropriation of $11,000 in fiscal year 2018-19 to the Department of Administrative and Financial Services to make programming changes to the income tax system.