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128th MAINE LEGISLATURE |
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LD 1537 |
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LR 726(10) |
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An Act To Replace
the Educational Opportunity Tax Credit with the Student Loan Repayment Credit
for Maine Residents |
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Fiscal Note for
Senate Amendment " " to Committee Amendment "A" |
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Sponsor: Sen. Volk of Cumberland |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2017-18 |
FY 2018-19 |
Projections FY 2019-20 |
Projections FY 2020-21 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$0 |
$0 |
$2,850,000 |
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| Revenue |
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General Fund |
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$0 |
$0 |
$0 |
($2,850,000) |
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Other Special Revenue Funds |
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$0 |
$0 |
$0 |
($150,000) |
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| Fiscal Detail
and Notes |
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The amendment
provides that under the new Sudent Loan Repayment Credit for Maine Residents
any unused credit in any taxable year can be carried forward and used in the
succeeding 5 tax years. It would
reduce General Fund revenue by $2,850,000 and reduce Local Government Fund
revenue by $150,000 in fiscal year 2020-21. |
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